Sabine Royalty Trust (NYSE:SBR) Shares Gap Down – Should You Sell?

Sabine Royalty Trust (NYSE:SBR) shares gapped down before the market opened on Thursday . The stock had previously closed at $75.02, but opened at $72.80. Sabine Royalty Trust shares last traded at $73.1990, with a volume of 531 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Sabine Royalty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Sabine Royalty Trust has an average rating of “Buy”.

Sabine Royalty Trust Stock Up 0.1%

The company has a market cap of $1.07 billion, a PE ratio of 15.01 and a beta of 0.22. The company has a 50-day moving average of $73.55 and a 200-day moving average of $74.41.

Sabine Royalty Trust (NYSE:SBR) last released its quarterly earnings results on Friday, August 7th. The energy company reported $1.43 EPS for the quarter. Sabine Royalty Trust had a return on equity of 961.80% and a net margin of 94.90%.The business had revenue of $21.79 million during the quarter.

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.3317 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.4%. Sabine Royalty Trust’s dividend payout ratio is currently 81.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBR. Clare Market Investments LLC purchased a new stake in shares of Sabine Royalty Trust during the first quarter valued at approximately $1,644,000. Prospera Financial Services Inc boosted its position in Sabine Royalty Trust by 173.9% in the fourth quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company’s stock worth $10,876,000 after purchasing an additional 100,691 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Sabine Royalty Trust in the first quarter worth $774,000. Savant Capital LLC bought a new position in Sabine Royalty Trust in the 4th quarter valued at $820,000. Finally, Independent Financial Group LLC bought a new position in Sabine Royalty Trust in the 1st quarter valued at $765,000. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

About Sabine Royalty Trust

Sabine Royalty Trust (NYSE:SBR) is a grantor trust that owns royalty and mineral interests in a portfolio of oil and natural gas properties in the United States. The trust does not drill wells or directly operate producing properties. Instead, independent exploration and production companies develop and operate the properties, with the trust receiving a portion of the resulting production revenues.

The trust’s interests are located primarily in Texas, Louisiana, Oklahoma, New Mexico, Mississippi and Florida.