Moors & Cabot Inc. Increases Stake in Sabine Royalty Trust (NYSE:SBR)

Moors & Cabot Inc. raised its stake in Sabine Royalty Trust (NYSE:SBR) by 0.8% in the second quarter, HoldingsChannel reports. The fund owned 23,998 shares of the energy company’s stock after purchasing an additional 201 shares during the period. Moors & Cabot Inc.’s holdings in Sabine Royalty Trust were worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Howard Financial Services LTD. lifted its stake in shares of Sabine Royalty Trust by 0.7% in the 1st quarter. Howard Financial Services LTD. now owns 25,745 shares of the energy company’s stock valued at $1,627,000 after purchasing an additional 182 shares during the period. American National Bank raised its position in shares of Sabine Royalty Trust by 0.6% in the first quarter. American National Bank now owns 36,185 shares of the energy company’s stock worth $2,301,000 after acquiring an additional 200 shares during the period. Olistico Wealth LLC purchased a new stake in shares of Sabine Royalty Trust during the 2nd quarter worth about $28,000. Raymond James & Associates grew its position in shares of Sabine Royalty Trust by 2.3% during the 2nd quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after acquiring an additional 588 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of Sabine Royalty Trust in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Stock Down 0.1 %

Shares of Sabine Royalty Trust stock opened at $60.30 on Wednesday. Sabine Royalty Trust has a twelve month low of $55.60 and a twelve month high of $72.50. The business has a 50-day moving average price of $62.80 and a 200 day moving average price of $63.56. The firm has a market cap of $879.11 million, a PE ratio of 10.47 and a beta of 0.47.

Sabine Royalty Trust (NYSE:SBR) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported $1.51 earnings per share for the quarter. Sabine Royalty Trust had a return on equity of 1,098.84% and a net margin of 96.63%. The firm had revenue of $22.78 million during the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.4213 dividend. This represents a $5.06 annualized dividend and a yield of 8.38%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Monday, September 16th. Sabine Royalty Trust’s payout ratio is presently 87.67%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 12th.

Sabine Royalty Trust 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.