Sabine Royalty Trust (NYSE:SBR) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $74.03 and traded as low as $71.99. Sabine Royalty Trust shares last traded at $72.97, with a volume of 14,018 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Sabine Royalty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Sabine Royalty Trust Trading Down 0.5%

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.83 and a beta of 0.29. The company has a fifty day moving average of $73.03 and a two-hundred day moving average of $73.99.

Sabine Royalty Trust (NYSE:SBR) last issued its quarterly earnings results on Friday, August 7th. The energy company reported $1.43 EPS for the quarter. Sabine Royalty Trust had a return on equity of 961.80% and a net margin of 94.90%. The company had revenue of $21.79 million for the quarter.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be issued a $0.3554 dividend. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.3317. This represents a $4.27 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, October 15th. Sabine Royalty Trust’s dividend payout ratio is currently 87.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SHP Wealth Management acquired a new position in Sabine Royalty Trust during the 4th quarter worth approximately $56,000. Fifth Third Bancorp raised its position in Sabine Royalty Trust by 55.2% during the first quarter. Fifth Third Bancorp now owns 1,282 shares of the energy company’s stock worth $97,000 after acquiring an additional 456 shares in the last quarter. Artesa Financial Group LLC acquired a new position in shares of Sabine Royalty Trust during the 1st quarter worth about $214,000. Azzad Asset Management Inc. ADV bought a new position in Sabine Royalty Trust during the first quarter worth about $223,000. Finally, State of Wyoming lifted its position in shares of Sabine Royalty Trust by 117.1% in the first quarter. State of Wyoming now owns 5,807 shares of the energy company’s stock valued at $437,000 after buying an additional 3,132 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors.

About Sabine Royalty Trust

Sabine Royalty Trust is a grantor trust formed in 1982 to own and administer royalty and mineral interests in oil and natural gas properties. The trust does not explore for, develop, or operate wells; instead, it receives royalty payments and other proceeds generated from production on properties in which it holds interests.

Its interests are located primarily across several U.S. states, including Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. Revenue generally depends on the volume of oil and natural gas produced from the underlying properties, commodity prices, and the operating activity of the companies that develop and manage those properties.

Sabine Royalty Trust is listed on the New York Stock Exchange under the symbol SBR.