Sabine Royalty Trust (SBR) To Go Ex-Dividend on July 15th

Sabine Royalty Trust (NYSE:SBR) announced a monthly dividend on Thursday, July 2nd. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.4292 per share by the energy company on Wednesday, July 29th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Wednesday, July 15th.

Sabine Royalty Trust has increased its dividend by an average of 0.2%per year over the last three years.

Sabine Royalty Trust Stock Performance

NYSE:SBR opened at $73.18 on Friday. Sabine Royalty Trust has a fifty-two week low of $65.15 and a fifty-two week high of $84.39. The firm has a market cap of $1.07 billion, a PE ratio of 15.60 and a beta of 0.21. The business has a 50 day moving average price of $75.34 and a 200-day moving average price of $72.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of Sabine Royalty Trust during the first quarter valued at approximately $772,000. Cetera Investment Advisers raised its holdings in Sabine Royalty Trust by 7.7% in the second quarter. Cetera Investment Advisers now owns 5,926 shares of the energy company’s stock worth $395,000 after purchasing an additional 425 shares in the last quarter. Marshall Wace LLP purchased a new position in Sabine Royalty Trust during the second quarter valued at $1,545,000. Peapack Gladstone Financial Corp lifted its position in Sabine Royalty Trust by 8.8% during the second quarter. Peapack Gladstone Financial Corp now owns 22,283 shares of the energy company’s stock valued at $1,486,000 after buying an additional 1,806 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Sabine Royalty Trust by 11.9% during the 2nd quarter. Bank of America Corp DE now owns 28,496 shares of the energy company’s stock valued at $1,900,000 after buying an additional 3,026 shares in the last quarter. Hedge funds and other institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

Sabine Royalty Trust is a Delaware statutory trust that owns a non-operating royalty interest in a portfolio of oil and gas properties. Rather than engaging in exploration or production activities directly, the trust receives a share of net proceeds from hydrocarbon production on the underlying properties and distributes those proceeds to unitholders on a monthly basis.

The trust was established in 1982 through a transaction with Sabine Oil & Gas Corporation, which transferred its overriding royalty interests in numerous wells and acreage to the trust.