StockNews.com Upgrades Sabine Royalty Trust (NYSE:SBR) to “Buy”

StockNews.com upgraded shares of Sabine Royalty Trust (NYSE:SBR) from a hold rating to a buy rating in a report released on Wednesday.

Sabine Royalty Trust Trading Up 0.6 %

SBR stock opened at $63.07 on Wednesday. The stock has a 50-day moving average price of $61.52 and a two-hundred day moving average price of $62.98. Sabine Royalty Trust has a 1 year low of $57.73 and a 1 year high of $72.50. The stock has a market cap of $919.56 million, a PE ratio of 9.66 and a beta of 0.47.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.5144 dividend. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.44. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.17 annualized dividend and a yield of 9.79%. Sabine Royalty Trust’s payout ratio is presently 95.07%.

Hedge Funds Weigh In On Sabine Royalty Trust

Several hedge funds have recently made changes to their positions in SBR. Moors & Cabot Inc. boosted its holdings in Sabine Royalty Trust by 0.8% during the second quarter. Moors & Cabot Inc. now owns 23,998 shares of the energy company’s stock worth $1,552,000 after purchasing an additional 201 shares during the last quarter. State Street Corp boosted its stake in shares of Sabine Royalty Trust by 3.8% during the 3rd quarter. State Street Corp now owns 6,505 shares of the energy company’s stock worth $402,000 after buying an additional 239 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Sabine Royalty Trust in the 2nd quarter valued at about $28,000. American National Bank & Trust increased its position in shares of Sabine Royalty Trust by 1.3% in the third quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock valued at $2,265,000 after acquiring an additional 483 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Sabine Royalty Trust by 2.3% during the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock worth $1,710,000 after acquiring an additional 588 shares in the last quarter. 15.81% of the stock is owned by institutional investors.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.