Independent Financial Group LLC Takes Position in Sabine Royalty Trust $SBR

Independent Financial Group LLC bought a new stake in shares of Sabine Royalty Trust (NYSE:SBR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 10,161 shares of the energy company’s stock, valued at approximately $765,000. Independent Financial Group LLC owned 0.07% of Sabine Royalty Trust as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Sabine Royalty Trust by 282.4% in the third quarter. JPMorgan Chase & Co. now owns 15,362 shares of the energy company’s stock valued at $1,221,000 after purchasing an additional 11,345 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Sabine Royalty Trust by 173.9% during the 4th quarter. Prospera Financial Services Inc now owns 158,609 shares of the energy company’s stock worth $10,876,000 after purchasing an additional 100,691 shares in the last quarter. Clare Market Investments LLC acquired a new stake in shares of Sabine Royalty Trust in the 1st quarter valued at about $1,644,000. Savant Capital LLC acquired a new stake in shares of Sabine Royalty Trust in the 4th quarter valued at about $820,000. Finally, Blue Trust Inc. increased its position in Sabine Royalty Trust by 27.9% in the 4th quarter. Blue Trust Inc. now owns 21,758 shares of the energy company’s stock valued at $1,492,000 after buying an additional 4,749 shares in the last quarter. 15.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Sabine Royalty Trust Trading Down 0.1%

NYSE SBR opened at $73.11 on Wednesday. The company has a fifty day simple moving average of $74.72 and a 200 day simple moving average of $73.23. Sabine Royalty Trust has a 12-month low of $65.15 and a 12-month high of $84.39. The company has a market cap of $1.07 billion, a P/E ratio of 15.59 and a beta of 0.21.

Sabine Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th will be issued a $0.4292 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Wednesday, July 15th. Sabine Royalty Trust’s dividend payout ratio is currently 109.81%.

Sabine Royalty Trust 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.