Prospera Financial Services Inc Has $4.60 Million Holdings in Sabine Royalty Trust $SBR

Prospera Financial Services Inc grew its holdings in shares of Sabine Royalty Trust (NYSE:SBR) by 86.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 57,918 shares of the energy company’s stock after purchasing an additional 26,859 shares during the quarter. Prospera Financial Services Inc’s holdings in Sabine Royalty Trust were worth $4,602,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position 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 during the period. Quaker Wealth Management LLC increased its stake in Sabine Royalty Trust by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 1,000 shares of the energy company’s stock valued at $66,000 after purchasing an additional 2,000 shares in the last quarter. Virtus Investment Advisers LLC increased its stake in Sabine Royalty Trust by 7.2% in the second quarter. Virtus Investment Advisers LLC now owns 2,593 shares of the energy company’s stock valued at $173,000 after purchasing an additional 175 shares in the last quarter. IronBridge Private Wealth LLC acquired a new position in shares of Sabine Royalty Trust during the third quarter valued at about $202,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Sabine Royalty Trust during the 2nd quarter worth about $205,000. Institutional investors and hedge funds own 15.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Sabine Royalty Trust Price Performance

Shares of NYSE SBR opened at $71.11 on Thursday. The company has a 50-day moving average price of $69.41 and a 200-day moving average price of $72.21. The stock has a market capitalization of $1.04 billion, a P/E ratio of 13.10 and a beta of 0.29. Sabine Royalty Trust has a 1 year low of $58.25 and a 1 year high of $84.39.

Sabine Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.2834 per share. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, February 17th. Sabine Royalty Trust’s payout ratio is currently 71.09%.

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.