Sabine Royalty Trust (NYSE:SBR) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $73.64 and traded as low as $70.11. Sabine Royalty Trust shares last traded at $70.7450, with a volume of 46,441 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Sabine Royalty Trust in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Sabine Royalty Trust Trading Down 0.0%

The company has a market cap of $1.03 billion, a P/E ratio of 15.08 and a beta of 0.21. The business has a 50 day moving average price of $73.73 and a 200-day moving average price of $73.64.

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th were issued a dividend of $0.4292 per share. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Wednesday, July 15th. Sabine Royalty Trust’s payout ratio is presently 109.81%.

Institutional Trading of Sabine Royalty Trust

A number of large investors have recently added to or reduced their stakes in the company. WealthCollab LLC grew its position in shares of Sabine Royalty Trust by 124.1% in the 4th quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock valued at $30,000 after acquiring an additional 242 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Sabine Royalty Trust by 79.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock worth $47,000 after purchasing an additional 313 shares during the last quarter. SHP Wealth Management bought a new stake in shares of Sabine Royalty Trust in the 4th quarter valued at about $56,000. Fifth Third Bancorp raised its holdings 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 during the period. Finally, Farther Finance Advisors LLC lifted its stake in Sabine Royalty Trust by 3,831.8% in the 4th quarter. Farther Finance Advisors LLC now owns 865 shares of the energy company’s stock valued at $59,000 after purchasing an additional 843 shares during the last quarter. 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.