Independent Financial Group LLC Takes $765,000 Position in Sabine Royalty Trust $SBR

Independent Financial Group LLC bought a new stake in shares of Sabine Royalty Trust (NYSE:SBR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,161 shares of the energy company’s stock, valued at approximately $765,000.

Several other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp raised its position in 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 buying an additional 167 shares during the last quarter. Royal Bank of Canada boosted its holdings in Sabine Royalty Trust by 8.2% during the 4th quarter. Royal Bank of Canada now owns 2,289 shares of the energy company’s stock worth $157,000 after acquiring an additional 174 shares during the last quarter. Allworth Financial LP grew its stake in shares of 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 acquiring an additional 200 shares in the last quarter. WealthCollab LLC grew its stake 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 worth $30,000 after acquiring an additional 242 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sabine Royalty Trust by 79.2% in the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock valued at $47,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 15.81% of the company’s stock.

Analyst Ratings Changes

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

Sabine Royalty Trust Stock Down 0.1%

SBR stock opened at $73.11 on Wednesday. The firm has a market cap of $1.07 billion, a PE ratio of 15.59 and a beta of 0.21. The business has a 50 day moving average of $74.72 and a 200-day moving average of $73.23. Sabine Royalty Trust has a 12-month low of $65.15 and a 12-month high of $84.39.

Sabine Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be given a $0.4292 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.0%. Sabine Royalty Trust’s payout ratio is currently 109.81%.

Sabine Royalty Trust 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.