Moors & Cabot Inc. Trims Position in Sabine Royalty Trust (NYSE:SBR)

Moors & Cabot Inc. lessened its position in shares of Sabine Royalty Trust (NYSE:SBR) by 33.1% in the first quarter, Holdings Channel reports. The fund owned 18,841 shares of the energy company’s stock after selling 9,319 shares during the quarter. Moors & Cabot Inc.’s holdings in Sabine Royalty Trust were worth $1,275,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of SBR. Islay Capital Management LLC increased its position in Sabine Royalty Trust by 14.3% in the fourth quarter. Islay Capital Management LLC now owns 4,000 shares of the energy company’s stock worth $259,000 after buying an additional 500 shares in the last quarter. Rahlfs Capital LLC purchased a new stake in Sabine Royalty Trust in the fourth quarter worth about $770,000. Raymond James Financial Inc. purchased a new stake in Sabine Royalty Trust in the fourth quarter worth about $1,920,000. Stifel Financial Corp increased its position in Sabine Royalty Trust by 1.8% in the fourth quarter. Stifel Financial Corp now owns 15,391 shares of the energy company’s stock worth $998,000 after buying an additional 269 shares in the last quarter. Finally, Capital Analysts LLC increased its position in Sabine Royalty Trust by 0.8% in the fourth quarter. Capital Analysts LLC now owns 24,245 shares of the energy company’s stock worth $1,571,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Stock Down 0.5%

Shares of SBR opened at $65.98 on Friday. The business has a 50-day simple moving average of $66.31 and a two-hundred day simple moving average of $66.14. The stock has a market cap of $961.92 million, a price-to-earnings ratio of 12.38 and a beta of 0.27. Sabine Royalty Trust has a 52 week low of $58.25 and a 52 week high of $70.20.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings results on Friday, May 9th. The energy company reported $1.24 EPS for the quarter. Sabine Royalty Trust had a return on equity of 904.22% and a net margin of 95.36%. The company had revenue of $19.40 million for the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were issued a dividend of $0.3459 per share. The ex-dividend date was Tuesday, July 15th. This represents a yield of 633.0%. This is a boost from Sabine Royalty Trust’s previous dividend of $0.14. Sabine Royalty Trust’s dividend payout ratio (DPR) is 77.86%.

About Sabine Royalty Trust

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.