Sabine Royalty Trust (NYSE:SBR) Trading Down 2.7% – Time to Sell?

Sabine Royalty Trust (NYSE:SBR)’s share price dropped 2.7% during trading on Tuesday . The company traded as low as $63.81 and last traded at $64.01. Approximately 38,672 shares were traded during trading, an increase of 3% from the average daily volume of 37,524 shares. The stock had previously closed at $65.82.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Sabine Royalty Trust Price Performance

The stock has a market cap of $932.97 million, a PE ratio of 9.86 and a beta of 0.48. The stock’s fifty day moving average is $62.72 and its 200-day moving average is $62.98.

Sabine Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.3112 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.73 annualized dividend and a dividend yield of 5.84%. Sabine Royalty Trust’s dividend payout ratio (DPR) is 57.47%.

Institutional Trading of Sabine Royalty Trust

Several institutional investors have recently made changes to their positions in SBR. Raymond James & Associates raised its position in Sabine Royalty Trust by 2.3% in 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 during the period. Concurrent Investment Advisors LLC purchased a new position in Sabine Royalty Trust during the 2nd quarter valued at about $302,000. Commonwealth Equity Services LLC grew its position in Sabine Royalty Trust by 77.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock valued at $2,511,000 after acquiring an additional 16,902 shares in the last quarter. Moors & Cabot Inc. increased its stake 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 worth $1,552,000 after purchasing an additional 201 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Sabine Royalty Trust during the second quarter worth about $323,000. Hedge funds and other institutional investors own 15.81% of the company’s stock.

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.