Sabine Royalty Trust (NYSE:SBR) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Sabine Royalty Trust (NYSE:SBR – Get Rating) in a report released on Thursday morning. The brokerage issued a buy rating on the energy company’s stock.

Sabine Royalty Trust Stock Performance

Shares of SBR opened at $66.20 on Thursday. Sabine Royalty Trust has a 52-week low of $54.00 and a 52-week high of $91.10. The business’s fifty day moving average is $80.59 and its 200-day moving average is $80.63. The firm has a market cap of $965.20 million, a price-to-earnings ratio of 7.86 and a beta of 0.55.

Sabine Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th will be paid a $0.465 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $5.58 annualized dividend and a dividend yield of 8.43%. Sabine Royalty Trust’s payout ratio is 66.39%.

Hedge Funds Weigh In On Sabine Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Dorsey Wright & Associates bought a new position in shares of Sabine Royalty Trust in the 4th quarter valued at $37,000. Royal Bank of Canada increased its stake in shares of Sabine Royalty Trust by 6,062.5% in the 3rd quarter. Royal Bank of Canada now owns 493 shares of the energy company’s stock valued at $35,000 after purchasing an additional 485 shares during the last quarter. MADDEN SECURITIES Corp bought a new stake in Sabine Royalty Trust during the 4th quarter worth $43,000. U.S. Capital Wealth Advisors LLC bought a new stake in Sabine Royalty Trust during the 4th quarter worth $48,000. Finally, Disciplined Investments LLC bought a new stake in Sabine Royalty Trust during the 3rd quarter worth $67,000. Institutional investors own 12.42% of the company’s stock.

About Sabine Royalty Trust

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Sabine Royalty Trust is an express trust, which engages in the provision of Sabine Corporation’s royalty and mineral interests. It includes landowner’s royalties, overriding royalty interests, minerals, production payments, and any other similar, non-participatory interest, in certain producing, and proved undeveloped oil and gas properties.