Sabine Royalty Trust (NYSE:SBR) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Sabine Royalty Trust (NYSE:SBRGet Rating) from a buy rating to a hold rating in a report issued on Friday.

SBR traded up $0.51 on Friday, reaching $65.92. The company’s stock had a trading volume of 55,408 shares, compared to its average volume of 63,643. Sabine Royalty Trust has a 1 year low of $35.08 and a 1 year high of $67.79. The business’s 50 day moving average is $61.05 and its 200 day moving average is $51.48.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be issued a $0.604 dividend. This represents a $7.25 dividend on an annualized basis and a yield of 11.00%. The ex-dividend date of this dividend is Friday, May 13th. Sabine Royalty Trust’s dividend payout ratio is currently 312.86%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its stake in Sabine Royalty Trust by 21.8% during the third quarter. Raymond James & Associates now owns 13,834 shares of the energy company’s stock valued at $593,000 after buying an additional 2,473 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in Sabine Royalty Trust by 10.0% during the third quarter. Peapack Gladstone Financial Corp now owns 29,788 shares of the energy company’s stock valued at $1,276,000 after buying an additional 2,700 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in Sabine Royalty Trust by 24.9% during the third quarter. United Capital Financial Advisers LLC now owns 25,119 shares of the energy company’s stock valued at $1,076,000 after buying an additional 5,000 shares in the last quarter. Essex Financial Services Inc. raised its stake in Sabine Royalty Trust by 14.3% during the third quarter. Essex Financial Services Inc. now owns 62,548 shares of the energy company’s stock valued at $2,679,000 after buying an additional 7,821 shares in the last quarter. Finally, Oxbow Advisors LLC raised its stake in Sabine Royalty Trust by 4.1% during the third quarter. Oxbow Advisors LLC now owns 19,736 shares of the energy company’s stock valued at $842,000 after buying an additional 780 shares in the last quarter.

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.

Read More

Want More Great Investing Ideas?

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.