Sabine Royalty Trust (NYSE:SBR) Sees Strong Trading Volume – Here’s What Happened

Shares of Sabine Royalty Trust (NYSE:SBR) saw unusually-high trading volume on Friday . Approximately 20,188 shares were traded during mid-day trading, a decline of 13% from the previous session’s volume of 23,293 shares.The stock last traded at $65.79 and had previously closed at $66.17.

Sabine Royalty Trust Price Performance

The company has a market capitalization of $963.30 million, a P/E ratio of 12.40 and a beta of 0.28. The firm has a fifty day moving average price of $66.27 and a 200-day moving average price of $66.11.

Sabine Royalty Trust (NYSE:SBR) last announced its quarterly earnings data on Friday, May 9th. The energy company reported $1.24 earnings per share for the quarter. Sabine Royalty Trust had a return on equity of 904.22% and a net margin of 95.36%. The business had revenue of $19.40 million during the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th will be issued a dividend of $0.3459 per share. This represents a yield of 6.33%. This is a positive change from Sabine Royalty Trust’s previous dividend of $0.14. The ex-dividend date is Tuesday, July 15th. Sabine Royalty Trust’s dividend payout ratio is 77.86%.

Hedge Funds Weigh In On Sabine Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new position in Sabine Royalty Trust during the second quarter valued at $205,000. PFG Investments LLC bought a new position in Sabine Royalty Trust during the second quarter valued at $260,000. Capital Investment Advisors LLC lifted its position in shares of Sabine Royalty Trust by 1.5% during the second quarter. Capital Investment Advisors LLC now owns 12,653 shares of the energy company’s stock worth $841,000 after acquiring an additional 193 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Sabine Royalty Trust during the second quarter worth $2,346,000. Finally, Jane Street Group LLC purchased a new stake in shares of Sabine Royalty Trust during the first quarter worth $772,000. 15.81% of the stock is owned by institutional investors.

About Sabine Royalty Trust

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. Its royalty and mineral interests include landowner's royalties, overriding royalty interests, minerals, production payments, and other similar non-participatory interest in certain producing and proved undeveloped oil and gas properties located in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.