Sabine Royalty Trust (NYSE:SBR) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its stake in shares of Sabine Royalty Trust (NYSE:SBR) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 143,555 shares of the energy company’s stock after selling 6,552 shares during the period. King Luther Capital Management Corp’s holdings in Sabine Royalty Trust were worth $9,304,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SBR. Raymond James Financial Inc. purchased a new position in Sabine Royalty Trust in the fourth quarter valued at $1,920,000. Clare Market Investments LLC purchased a new position in shares of Sabine Royalty Trust in the 4th quarter valued at about $1,510,000. Sendero Wealth Management LLC acquired a new position in shares of Sabine Royalty Trust during the fourth quarter worth about $838,000. Howard Financial Services LTD. increased its stake in shares of Sabine Royalty Trust by 14.6% during the fourth quarter. Howard Financial Services LTD. now owns 77,336 shares of the energy company’s stock worth $5,012,000 after buying an additional 9,840 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Sabine Royalty Trust by 1,683.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,727 shares of the energy company’s stock valued at $306,000 after acquiring an additional 4,462 shares in the last quarter. 15.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research report on Monday, February 10th.

Sabine Royalty Trust Price Performance

Sabine Royalty Trust stock opened at $64.53 on Wednesday. The stock has a market cap of $940.78 million, a PE ratio of 9.94 and a beta of 0.44. The stock’s fifty day moving average is $66.63 and its two-hundred day moving average is $63.94. Sabine Royalty Trust has a 1-year low of $58.60 and a 1-year high of $70.20.

Sabine Royalty Trust (NYSE:SBR) last released its quarterly earnings data on Thursday, February 27th. The energy company reported $1.27 EPS for the quarter. The business had revenue of $19.55 million for the quarter. Sabine Royalty Trust had a return on equity of 1,088.44% and a net margin of 96.72%.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.3012 per share. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. This represents a $3.61 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend is Monday, March 17th. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 66.12%.

Sabine Royalty Trust 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.