Sabine Royalty Trust (NYSE:SBR) Releases Earnings Results

Sabine Royalty Trust (NYSE:SBR) released its earnings results on Friday. The energy company reported $1.43 earnings per share for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.73% and a return on equity of 959.48%.

Sabine Royalty Trust Stock Performance

Shares of Sabine Royalty Trust stock traded up $1.85 on Friday, hitting $72.58. 61,442 shares of the company traded hands, compared to its average volume of 39,229. The stock has a market capitalization of $1.06 billion, a P/E ratio of 15.48 and a beta of 0.21. Sabine Royalty Trust has a 52 week low of $65.31 and a 52 week high of $84.39. The business has a 50-day simple moving average of $73.73 and a 200 day simple moving average of $73.64.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.6194 per share. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.43. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 10.2%. Sabine Royalty Trust’s payout ratio is 109.81%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SBR. Marshall Wace LLP bought a new position in Sabine Royalty Trust during the second quarter valued at $1,545,000. Two Sigma Investments LP increased its holdings in shares of Sabine Royalty Trust by 31.0% in the 3rd quarter. Two Sigma Investments LP now owns 73,515 shares of the energy company’s stock worth $5,842,000 after buying an additional 17,385 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sabine Royalty Trust in the 4th quarter worth about $1,080,000. &PARTNERS purchased a new stake in shares of Sabine Royalty Trust during the 4th quarter valued at about $962,000. Finally, Bank of America Corp DE raised its position in shares of Sabine Royalty Trust by 40.5% during the 3rd quarter. Bank of America Corp DE now owns 40,023 shares of the energy company’s stock valued at $3,180,000 after buying an additional 11,527 shares in the last quarter. Institutional investors own 15.81% of the company’s stock.

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.