StockNews.com Downgrades Sabine Royalty Trust (NYSE:SBR) to Hold

StockNews.com cut shares of Sabine Royalty Trust (NYSE:SBR) from a buy rating to a hold rating in a research note issued to investors on Friday.

Sabine Royalty Trust Trading Up 0.8 %

NYSE SBR opened at $66.83 on Friday. The stock has a fifty day simple moving average of $64.22 and a 200-day simple moving average of $63.05. Sabine Royalty Trust has a twelve month low of $57.73 and a twelve month high of $69.50.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.4483 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. This represents a $5.38 dividend on an annualized basis and a dividend yield of 8.05%. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 57.47%.

Hedge Funds Weigh In On Sabine Royalty Trust

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in Sabine Royalty Trust in the second quarter valued at approximately $323,000. American National Bank & Trust raised its holdings in shares of Sabine Royalty Trust by 1.3% in the 3rd quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock valued at $2,265,000 after buying an additional 483 shares during the period. Howard Financial Services LTD. lifted its stake in Sabine Royalty Trust by 160.8% during the 3rd quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock worth $4,158,000 after acquiring an additional 41,618 shares in the last quarter. BWM Planning LLC purchased a new position in Sabine Royalty Trust during the 3rd quarter valued at about $1,331,000. Finally, Concurrent Investment Advisors LLC grew its position in Sabine Royalty Trust by 491.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 27,614 shares of the energy company’s stock valued at $1,702,000 after acquiring an additional 22,949 shares in the last quarter. Hedge funds and other institutional investors own 15.81% of the company’s stock.

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.