Sabine Royalty Trust (NYSE:SBR) Announces Earnings Results

Sabine Royalty Trust (NYSE:SBR) issued its earnings results on Friday. The energy company reported $1.43 earnings per share for the quarter, Zacks reports. Sabine Royalty Trust had a return on equity of 959.48% and a net margin of 94.73%.The company had revenue of $21.79 million for the quarter.

Sabine Royalty Trust Price Performance

NYSE:SBR traded up $1.85 during trading hours on Friday, reaching $72.58. The company’s stock had a trading volume of 61,442 shares, compared to its average volume of 37,251. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 15.48 and a beta of 0.21. Sabine Royalty Trust has a one year low of $65.31 and a one year high of $84.39. The business’s 50-day moving average is $73.68 and its 200-day moving average is $73.63.

Sabine Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.6194 dividend. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.43. This represents a c) dividend on an annualized basis and a yield of 10.2%. The ex-dividend date is Monday, August 17th. Sabine Royalty Trust’s dividend payout ratio is currently 109.81%.

Institutional Trading of Sabine Royalty Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Sabine Royalty Trust during the 4th quarter worth about $301,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Sabine Royalty Trust by 2.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,025 shares of the energy company’s stock valued at $1,030,000 after acquiring an additional 418 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Sabine Royalty Trust by 0.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 86,389 shares of the energy company’s stock valued at $5,924,000 after acquiring an additional 805 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Sabine Royalty Trust in the 4th quarter worth approximately $67,000. Finally, Lazard Asset Management LLC acquired a new stake in Sabine Royalty Trust in the 4th quarter worth approximately $1,080,000. Institutional investors and hedge funds own 15.81% of the company’s stock.

Analyst Ratings Changes

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

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.