JPMorgan Chase & Co. Buys 11,345 Shares of Sabine Royalty Trust $SBR

JPMorgan Chase & Co. boosted its stake in Sabine Royalty Trust (NYSE:SBR) by 282.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,362 shares of the energy company’s stock after purchasing an additional 11,345 shares during the period. JPMorgan Chase & Co.’s holdings in Sabine Royalty Trust were worth $1,221,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Americana Partners LLC raised its position in Sabine Royalty Trust by 611.6% in the third quarter. Americana Partners LLC now owns 264,404 shares of the energy company’s stock valued at $21,007,000 after purchasing an additional 227,249 shares during the last quarter. Two Sigma Investments LP raised its position in Sabine Royalty Trust by 31.0% in the third quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock valued at $5,842,000 after purchasing an additional 17,385 shares during the last quarter. Prospera Financial Services Inc raised its position in Sabine Royalty Trust by 86.5% in the third quarter. Prospera Financial Services Inc now owns 57,918 shares of the energy company’s stock valued at $4,602,000 after purchasing an additional 26,859 shares during the last quarter. Bank of America Corp DE raised its position in Sabine Royalty Trust by 40.5% in the third quarter. Bank of America Corp DE now owns 40,023 shares of the energy company’s stock valued at $3,180,000 after purchasing an additional 11,527 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Sabine Royalty Trust by 19.1% in the third quarter. Citadel Advisors LLC now owns 31,090 shares of the energy company’s stock valued at $2,470,000 after purchasing an additional 4,995 shares during the last quarter. 15.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Sabine Royalty Trust Stock Down 0.1%

Shares of NYSE SBR opened at $74.76 on Friday. Sabine Royalty Trust has a twelve month low of $61.38 and a twelve month high of $84.39. The firm has a fifty day simple moving average of $72.85 and a 200 day simple moving average of $72.52. The company has a market capitalization of $1.09 billion, a PE ratio of 14.83 and a beta of 0.30.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.325 per share. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.29. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, April 15th. Sabine Royalty Trust’s payout ratio is 68.06%.

About Sabine Royalty Trust

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.