Sabine Royalty Trust (NYSE:SBR) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Sabine Royalty Trust (NYSE:SBR) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $72.58 and traded as high as $75.47. Sabine Royalty Trust shares last traded at $75.0760, with a volume of 37,610 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Sabine Royalty Trust Trading Up 1.5%

The stock has a market cap of $1.09 billion, a PE ratio of 13.83 and a beta of 0.28. The business has a 50 day moving average of $70.41 and a 200-day moving average of $72.58.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $0.2862 dividend. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.28. Sabine Royalty Trust’s dividend payout ratio is presently 62.62%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds have recently made changes to their positions in the stock. Americana Partners LLC increased its position in shares of Sabine Royalty Trust by 2.1% in the fourth quarter. Americana Partners LLC now owns 269,933 shares of the energy company’s stock worth $18,509,000 after acquiring an additional 5,529 shares in the last quarter. Beacon Pointe Advisors LLC lifted its stake in Sabine Royalty Trust by 1.3% during the second quarter. Beacon Pointe Advisors LLC now owns 195,894 shares of the energy company’s stock worth $13,017,000 after purchasing an additional 2,443 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in Sabine Royalty Trust by 173.9% in the fourth quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company’s stock worth $10,876,000 after acquiring an additional 100,691 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Sabine Royalty Trust by 31.0% in the 3rd quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock worth $5,842,000 after acquiring an additional 17,385 shares during the period. Finally, Bank of America Corp DE increased its position in Sabine Royalty Trust by 40.5% in the 3rd quarter. Bank of America Corp DE now owns 40,023 shares of the energy company’s stock valued at $3,180,000 after acquiring an additional 11,527 shares during the period. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.