Moors & Cabot Inc. Has $1.59 Million Stake in Sabine Royalty Trust (NYSE:SBR)

Moors & Cabot Inc. boosted its stake in Sabine Royalty Trust (NYSE:SBR) by 6.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,659 shares of the energy company’s stock after buying an additional 1,661 shares during the quarter. Moors & Cabot Inc.’s holdings in Sabine Royalty Trust were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Olistico Wealth LLC bought a new position in shares of Sabine Royalty Trust during the 2nd quarter worth $28,000. Family Firm Inc. bought a new stake in shares of Sabine Royalty Trust in the 2nd quarter worth approximately $48,000. Concurrent Investment Advisors LLC bought a new stake in shares of Sabine Royalty Trust in the 2nd quarter worth approximately $302,000. Hsbc Holdings PLC bought a new stake in shares of Sabine Royalty Trust during the second quarter valued at approximately $323,000. Finally, Philip James Wealth Mangement LLC bought a new stake in shares of Sabine Royalty Trust during the third quarter valued at approximately $327,000. 15.81% of the stock is owned by hedge funds and other institutional investors.

Sabine Royalty Trust Price Performance

NYSE:SBR opened at $61.86 on Thursday. The stock has a 50-day simple moving average of $61.44 and a two-hundred day simple moving average of $62.99. Sabine Royalty Trust has a 52-week low of $57.73 and a 52-week high of $72.50.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.5144 per share. This represents a $6.17 annualized dividend and a yield of 9.98%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.44. Sabine Royalty Trust’s payout ratio is currently 95.07%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday.

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.