Royce & Associates LP Trims Stake in Sabine Royalty Trust (NYSE:SBR)

Royce & Associates LP lowered its stake in Sabine Royalty Trust (NYSE:SBRGet Rating) by 20.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,148 shares of the energy company’s stock after selling 16,500 shares during the quarter. Royce & Associates LP’s holdings in Sabine Royalty Trust were worth $3,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Citizens National Bank Trust Department purchased a new position in shares of Sabine Royalty Trust during the 4th quarter worth $42,000. Dorsey Wright & Associates purchased a new position in shares of Sabine Royalty Trust during the 1st quarter worth $43,000. Ackerman Capital Advisors LLC purchased a new position in shares of Sabine Royalty Trust during the 1st quarter worth $202,000. Raymond James & Associates raised its position in shares of Sabine Royalty Trust by 9.7% in the 4th quarter. Raymond James & Associates now owns 15,177 shares of the energy company’s stock worth $633,000 after buying an additional 1,343 shares during the period. Finally, Advisor Group Holdings Inc. raised its position in shares of Sabine Royalty Trust by 6.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 27,683 shares of the energy company’s stock worth $1,153,000 after buying an additional 1,701 shares during the period.

Analysts Set New Price Targets

Separately, StockNews.com lowered Sabine Royalty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th.

Sabine Royalty Trust Trading Down 5.4 %

Shares of SBR opened at $64.11 on Friday. The firm has a market capitalization of $934.72 million, a P/E ratio of 25.32 and a beta of 0.58. The stock’s fifty day simple moving average is $67.85 and its 200 day simple moving average is $61.65. Sabine Royalty Trust has a twelve month low of $37.00 and a twelve month high of $90.73.

Sabine Royalty Trust (NYSE:SBRGet Rating) last issued its earnings results on Thursday, May 12th. The energy company reported $1.58 earnings per share for the quarter. The business had revenue of $23.93 million for the quarter. Sabine Royalty Trust had a return on equity of 707.91% and a net margin of 95.76%.

Sabine Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $6.60 annualized dividend and a yield of 10.29%.

Sabine Royalty Trust Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Sabine Royalty Trust (NYSE:SBR)

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