Sabine Royalty Trust (NYSE:SBR) Sees Strong Trading Volume – Here’s Why

Shares of Sabine Royalty Trust (NYSE:SBR) saw unusually-high trading volume on Wednesday . Approximately 56,714 shares traded hands during mid-day trading, an increase of 48% from the previous session’s volume of 38,431 shares.The stock last traded at $69.8160 and had previously closed at $70.12.

Wall Street Analysts Forecast Growth

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

Sabine Royalty Trust Stock Down 1.1%

The firm’s 50 day simple moving average is $73.31 and its 200 day simple moving average is $71.61. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 12.77 and a beta of 0.25.

Sabine Royalty Trust (NYSE:SBR) last issued its quarterly earnings data on Friday, November 7th. The energy company reported $1.70 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a return on equity of 961.65% and a net margin of 95.30%.The business had revenue of $25.52 million during the quarter.

Sabine Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were paid a $0.1967 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 3.4%. Sabine Royalty Trust’s dividend payout ratio is presently 43.46%.

Institutional Investors Weigh In On Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SBR. Allworth Financial LP grew its position in Sabine Royalty Trust by 51.8% in the 3rd quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock valued at $47,000 after buying an additional 200 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Sabine Royalty Trust by 92.6% in the 3rd quarter. NewEdge Advisors LLC now owns 1,040 shares of the energy company’s stock worth $83,000 after acquiring an additional 500 shares during the period. Voleon Capital Management LP bought a new position in shares of Sabine Royalty Trust in the third quarter valued at approximately $424,000. Millennium Management LLC acquired a new position in shares of Sabine Royalty Trust during the third quarter valued at approximately $355,000. Finally, Citadel Advisors LLC increased its stake in shares of Sabine Royalty Trust by 19.1% during the third quarter. Citadel Advisors LLC now owns 31,090 shares of the energy company’s stock valued at $2,470,000 after acquiring an additional 4,995 shares during the period. 15.81% of the stock is currently owned by institutional investors.

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.