Sabine Royalty Trust (NYSE:SBR) Shares Gap Down to $67.35

Sabine Royalty Trust (NYSE:SBR) shares gapped down prior to trading on Friday . The stock had previously closed at $67.35, but opened at $65.65. Sabine Royalty Trust shares last traded at $66.70, with a volume of 8,276 shares traded.

Sabine Royalty Trust Stock Performance

The stock has a 50-day moving average of $64.29 and a 200 day moving average of $63.91. The firm has a market capitalization of $949.16 million, a P/E ratio of 11.69 and a beta of 0.48.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $1.37 earnings per share (EPS) for the quarter. The firm had revenue of $20.76 million for the quarter. Sabine Royalty Trust had a return on equity of 1,059.92% and a net margin of 96.22%.

Sabine Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $0.538 dividend. This represents a $6.46 annualized dividend and a yield of 9.92%. The ex-dividend date was Monday, June 17th. Sabine Royalty Trust’s payout ratio is 111.98%.

Institutional Trading of Sabine Royalty Trust

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sabine Royalty Trust in the first quarter valued at about $11,173,000. Significant Wealth Partners LLC bought a new position in shares of Sabine Royalty Trust in the 4th quarter valued at about $2,647,000. Fielder Capital Group LLC acquired a new stake in shares of Sabine Royalty Trust in the fourth quarter valued at about $796,000. Burford Brothers Inc. acquired a new stake in shares of Sabine Royalty Trust in the 4th quarter valued at approximately $677,000. Finally, Koshinski Asset Management Inc. raised its position in Sabine Royalty Trust by 39.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 33,085 shares of the energy company’s stock worth $2,240,000 after acquiring an additional 9,305 shares in the last quarter. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

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.