Sabine Royalty Trust (NYSE:SBR) Sees Large Decline in Short Interest

Sabine Royalty Trust (NYSE:SBR) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 7,400 shares, a drop of 32.7% from the August 31st total of 11,000 shares. Based on an average daily volume of 36,200 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Sabine Royalty Trust

Several institutional investors have recently made changes to their positions in the stock. Howard Financial Services LTD. raised its position in Sabine Royalty Trust by 0.7% during the first 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 in the last quarter. American National Bank raised its position in Sabine Royalty Trust by 0.6% during the first quarter. American National Bank now owns 36,185 shares of the energy company’s stock valued at $2,301,000 after purchasing an additional 200 shares in the last quarter. Moors & Cabot Inc. raised its position in Sabine Royalty Trust by 0.8% during the second quarter. Moors & Cabot Inc. now owns 23,998 shares of the energy company’s stock valued at $1,552,000 after purchasing an additional 201 shares in the last quarter. Olistico Wealth LLC acquired a new position in Sabine Royalty Trust during the second quarter valued at approximately $28,000. Finally, Raymond James & Associates raised its position in Sabine Royalty Trust by 2.3% during the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after purchasing an additional 588 shares in the last quarter. 15.81% of the stock is currently owned by institutional investors.

Sabine Royalty Trust Price Performance

NYSE SBR traded up $2.29 during trading on Friday, reaching $61.77. 41,342 shares of the company’s stock were exchanged, compared to its average volume of 34,568. The business has a 50 day moving average price of $62.19 and a 200-day moving average price of $63.53. Sabine Royalty Trust has a fifty-two week low of $55.60 and a fifty-two week high of $72.50.

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

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.4213 dividend. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. This represents a $5.06 annualized dividend and a dividend yield of 8.18%. The ex-dividend date of this dividend is Monday, September 16th. Sabine Royalty Trust’s payout ratio is 87.85%.

About Sabine Royalty Trust

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.