Sabine Royalty Trust (NYSE:SBR) Announces Dividend Increase – $0.83 Per Share

Sabine Royalty Trust (NYSE:SBR – Get Rating) announced a quarterly dividend on Friday, August 5th, Zacks reports. Stockholders of record on Monday, August 15th will be paid a dividend of 0.829 per share by the energy company on Monday, August 29th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, August 12th. This is a boost from Sabine Royalty Trust’s previous quarterly dividend of $0.39.

Sabine Royalty Trust Stock Up 4.2 %

Shares of SBR traded up $2.71 during trading hours on Friday, reaching $66.82. 53,919 shares of the company traded hands, compared to its average volume of 63,848. Sabine Royalty Trust has a 12-month low of $37.00 and a 12-month high of $90.73. The stock’s fifty day moving average price is $67.69 and its 200 day moving average price is $61.76.

Sabine Royalty Trust (NYSE:SBR – Get Rating) last issued its earnings results on Thursday, May 12th. The energy company reported $1.58 earnings per share (EPS) for the quarter. The firm had revenue of $23.93 million during the quarter. Sabine Royalty Trust had a net margin of 95.76% and a return on equity of 707.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Sabine Royalty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th.

Institutional Trading of Sabine Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in SBR. Raymond James & Associates lifted its stake in Sabine Royalty Trust by 33.7% in the first quarter. Raymond James & Associates now owns 20,285 shares of the energy company’s stock worth $1,171,000 after acquiring an additional 5,108 shares during the period. HighTower Advisors LLC lifted its position in shares of Sabine Royalty Trust by 56.4% during the first quarter. HighTower Advisors LLC now owns 9,020 shares of the energy company’s stock valued at $521,000 after buying an additional 3,254 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Sabine Royalty Trust during the first quarter valued at about $284,000. Moors & Cabot Inc. lifted its position in shares of Sabine Royalty Trust by 7.1% during the first quarter. Moors & Cabot Inc. now owns 9,080 shares of the energy company’s stock valued at $524,000 after buying an additional 600 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Sabine Royalty Trust by 7.8% during the first quarter. UBS Group AG now owns 17,071 shares of the energy company’s stock valued at $986,000 after buying an additional 1,232 shares during the last quarter.

Sabine Royalty Trust Company Profile

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Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. The company's 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.