Raymond James & Associates Decreases Stake in Sabine Royalty Trust (NYSE:SBR)

Raymond James & Associates reduced its position in Sabine Royalty Trust (NYSE:SBR) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,837 shares of the energy company’s stock after selling 641 shares during the period. Raymond James & Associates’ holdings in Sabine Royalty Trust were worth $1,753,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its position in Sabine Royalty Trust by 2.3% in the 4th quarter. Cetera Advisors LLC now owns 5,834 shares of the energy company’s stock valued at $499,000 after buying an additional 131 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Sabine Royalty Trust by 2.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,732 shares of the energy company’s stock worth $575,000 after purchasing an additional 199 shares during the last quarter. State Street Corp lifted its position in shares of Sabine Royalty Trust by 2.7% during the third quarter. State Street Corp now owns 9,601 shares of the energy company’s stock worth $682,000 after purchasing an additional 250 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of Sabine Royalty Trust by 2.8% during the third quarter. Moors & Cabot Inc. now owns 10,967 shares of the energy company’s stock worth $723,000 after purchasing an additional 295 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Sabine Royalty Trust by 3.2% during the third quarter. Envestnet Asset Management Inc. now owns 9,675 shares of the energy company’s stock worth $636,000 after purchasing an additional 297 shares during the last quarter. 15.81% of the stock is owned by hedge funds and other institutional investors.

Sabine Royalty Trust Stock Performance

Shares of SBR stock opened at $64.17 on Thursday. Sabine Royalty Trust has a one year low of $55.60 and a one year high of $79.12. The company’s 50-day simple moving average is $62.92 and its 200-day simple moving average is $63.31. The stock has a market capitalization of $935.60 million, a price-to-earnings ratio of 10.37 and a beta of 0.51.

Sabine Royalty Trust (NYSE:SBR) last issued its quarterly earnings results on Thursday, February 29th. The energy company reported $2.30 EPS for the quarter. Sabine Royalty Trust had a net margin of 96.20% and a return on equity of 1,059.66%. The business had revenue of $34.35 million for the quarter.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 29th. Stockholders of record on Monday, April 15th will be given a dividend of $0.5355 per share. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.43 annualized dividend and a dividend yield of 10.01%. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 103.88%.

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.