Sabine Royalty Trust (NYSE:SBR) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Sabine Royalty Trust (NYSE:SBR)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $71.30 and traded as high as $75.49. Sabine Royalty Trust shares last traded at $73.4850, with a volume of 71,046 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Sabine Royalty Trust Stock Performance

The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 14.58 and a beta of 0.28. The business’s fifty day simple moving average is $71.30 and its 200 day simple moving average is $72.59.

Sabine Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.2862 dividend. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.28. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, March 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 68.06%.

Institutional Investors Weigh In On Sabine Royalty Trust

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp raised its position in shares of Sabine Royalty Trust by 25.3% in the 4th quarter. Fifth Third Bancorp now owns 826 shares of the energy company’s stock valued at $57,000 after purchasing an additional 167 shares in the last quarter. Royal Bank of Canada grew its position in shares of Sabine Royalty Trust by 8.2% during the fourth quarter. Royal Bank of Canada now owns 2,289 shares of the energy company’s stock worth $157,000 after buying an additional 174 shares in the last quarter. Virtus Investment Advisers LLC increased its stake in shares of Sabine Royalty Trust by 7.2% in the second quarter. Virtus Investment Advisers LLC now owns 2,593 shares of the energy company’s stock worth $173,000 after buying an additional 175 shares during the last quarter. Allworth Financial LP increased its stake in shares of Sabine Royalty Trust by 51.8% in the third quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock worth $47,000 after buying an additional 200 shares during the last quarter. Finally, WealthCollab LLC raised its holdings in Sabine Royalty Trust by 124.1% in the fourth quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock valued at $30,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 15.81% of the company’s stock.

About Sabine Royalty Trust

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.