Sabine Royalty Trust (NYSE:SBR) Releases Quarterly Earnings Results

Sabine Royalty Trust (NYSE:SBR) posted its earnings results on Friday. The energy company reported $1.70 earnings per share (EPS) for the quarter, Zacks reports. Sabine Royalty Trust had a return on equity of 866.81% and a net margin of 94.85%.

Sabine Royalty Trust Stock Performance

Shares of NYSE:SBR traded up $2.19 during trading hours on Friday, reaching $76.73. The stock had a trading volume of 49,580 shares, compared to its average volume of 38,866. Sabine Royalty Trust has a 1 year low of $58.25 and a 1 year high of $84.39. The firm’s 50 day moving average is $74.01 and its 200-day moving average is $69.54. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.22 and a beta of 0.25.

Sabine Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.3567 per share. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date is Monday, November 17th. Sabine Royalty Trust’s payout ratio is 87.70%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Sabine Royalty Trust has a consensus rating of “Hold”.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Sabine Royalty Trust during the 2nd quarter worth about $1,545,000. Jane Street Group LLC purchased a new stake in Sabine Royalty Trust during the first quarter worth approximately $772,000. JPMorgan Chase & Co. lifted its stake in Sabine Royalty Trust by 282.4% during the third quarter. JPMorgan Chase & Co. now owns 15,362 shares of the energy company’s stock worth $1,221,000 after purchasing an additional 11,345 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Sabine Royalty Trust by 249.6% in the second quarter. Advisory Services Network LLC now owns 10,796 shares of the energy company’s stock valued at $716,000 after purchasing an additional 7,708 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in Sabine Royalty Trust in the third quarter valued at approximately $363,000. Institutional investors and hedge funds own 15.81% of the company’s stock.

Sabine Royalty Trust Company Profile

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.