Sabine Royalty Trust (NYSE:SBR) Sees Strong Trading Volume

Sabine Royalty Trust (NYSE:SBRGet Rating) shares saw unusually-high trading volume on Friday . Approximately 7,034 shares were traded during trading, a decline of 93% from the previous session’s volume of 107,201 shares.The stock last traded at $88.19 and had previously closed at $88.64.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Tuesday, November 22nd.

Sabine Royalty Trust Stock Performance

The company’s fifty day moving average price is $82.54 and its two-hundred day moving average price is $77.81.

Sabine Royalty Trust (NYSE:SBRGet Rating) last issued its quarterly earnings results on Thursday, November 10th. The energy company reported $2.68 earnings per share for the quarter. The business had revenue of $40.06 million during the quarter. Sabine Royalty Trust had a net margin of 97.08% and a return on equity of 816.96%.

Sabine Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 17th will be issued a $0.632 dividend. This represents a $7.58 dividend on an annualized basis and a dividend yield of 8.57%. The ex-dividend date is Friday, January 13th.

Institutional Trading of Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SBR. King Luther Capital Management Corp grew its holdings in Sabine Royalty Trust by 4.3% during the 3rd quarter. King Luther Capital Management Corp now owns 155,408 shares of the energy company’s stock worth $11,046,000 after acquiring an additional 6,453 shares during the period. Walker Asset Management LLC bought a new position in shares of Sabine Royalty Trust during the second quarter worth $9,760,000. Edge Capital Group LLC bought a new position in shares of Sabine Royalty Trust during the second quarter worth $11,163,000. BNP Paribas Arbitrage SA boosted its position in shares of Sabine Royalty Trust by 156.1% during the second quarter. BNP Paribas Arbitrage SA now owns 45,530 shares of the energy company’s stock worth $2,772,000 after purchasing an additional 27,755 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Sabine Royalty Trust by 40.3% during the first quarter. Bank of America Corp DE now owns 40,900 shares of the energy company’s stock worth $2,362,000 after purchasing an additional 11,744 shares in the last quarter. Institutional investors and hedge funds own 12.42% of the company’s stock.

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.

Further Reading

Receive News & Ratings for Sabine Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sabine Royalty Trust and related companies with MarketBeat.com's FREE daily email newsletter.