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

StockNews.com cut shares of Sabine Royalty Trust (NYSE:SBR – Get Rating) from a buy rating to a hold rating in a report issued on Friday morning.

Shares of Sabine Royalty Trust stock traded up $0.51 on Friday, reaching $65.92. 55,408 shares of the company were exchanged, compared to its average volume of 63,643. The company’s 50-day moving average is $61.05 and its two-hundred day moving average is $51.48. Sabine Royalty Trust has a 1-year low of $35.08 and a 1-year high of $67.79.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be paid a dividend of $0.604 per share. This represents a $7.25 annualized dividend and a yield of 11.00%. The ex-dividend date of this dividend is Friday, May 13th. Sabine Royalty Trust’s payout ratio is currently 312.86%.

A number of institutional investors have recently made changes to their positions in the business. McGowan Group Asset Management Inc. bought a new stake in Sabine Royalty Trust during the 1st quarter valued at $271,000. Moors & Cabot Inc. raised its stake in Sabine Royalty Trust by 7.1% during the 1st quarter. Moors & Cabot Inc. now owns 9,080 shares of the energy company’s stock valued at $524,000 after acquiring an additional 600 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in Sabine Royalty Trust during the 1st quarter valued at $284,000. Archer Investment Corp acquired a new position in shares of Sabine Royalty Trust during the 1st quarter valued at $37,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Sabine Royalty Trust during the 1st quarter valued at $1,440,000.

About Sabine Royalty Trust (Get Rating)

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. The company's 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.

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