Sabine Royalty Trust (NYSE:SBR) Shares Gap Down – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR) gapped down before the market opened on Friday . The stock had previously closed at $70.12, but opened at $68.56. Sabine Royalty Trust shares last traded at $68.7110, with a volume of 3,539 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Sabine Royalty Trust has a consensus rating of “Hold”.

Sabine Royalty Trust Stock Up 1.0%

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 12.75 and a beta of 0.28. The company has a 50-day moving average price of $73.27 and a 200 day moving average price of $71.57.

Sabine Royalty Trust (NYSE:SBR) last announced 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 firm had revenue of $25.52 million during the quarter.

Sabine Royalty Trust Cuts Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted 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 worth $47,000 after buying an additional 200 shares in the last quarter. BNP Paribas Financial Markets grew its holdings 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 valued at $47,000 after acquiring an additional 313 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Sabine Royalty Trust by 85.6% in the third quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock worth $52,000 after acquiring an additional 304 shares during the last quarter. Quaker Wealth Management LLC raised its holdings in shares of Sabine Royalty Trust by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 1,000 shares of the energy company’s stock worth $66,000 after acquiring an additional 2,000 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Sabine Royalty Trust by 92.6% during the third quarter. NewEdge Advisors LLC now owns 1,040 shares of the energy company’s stock valued at $83,000 after purchasing an additional 500 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.