Sabine Royalty Trust (NYSE:SBR) Shares Gap Down to $67.35

Sabine Royalty Trust (NYSE:SBR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $67.35, but opened at $65.65. Sabine Royalty Trust shares last traded at $66.70, with a volume of 8,276 shares traded.

Sabine Royalty Trust Trading Down 3.3 %

The firm’s 50-day moving average is $64.29 and its 200 day moving average is $63.91. The firm has a market capitalization of $949.16 million, a price-to-earnings ratio of 11.69 and a beta of 0.48.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings data on Thursday, May 9th. The energy company reported $1.37 earnings per share for the quarter. Sabine Royalty Trust had a net margin of 96.22% and a return on equity of 1,059.92%. The company had revenue of $20.76 million during the quarter.

Sabine Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.538 per share. This represents a $6.46 annualized dividend and a yield of 9.92%. The ex-dividend date was Monday, June 17th. Sabine Royalty Trust’s dividend payout ratio is presently 111.98%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC acquired a new position in shares of Sabine Royalty Trust during the fourth quarter valued at about $147,000. Islay Capital Management LLC lifted its holdings in shares of Sabine Royalty Trust by 16.7% in the fourth quarter. Islay Capital Management LLC now owns 3,500 shares of the energy company’s stock valued at $237,000 after purchasing an additional 500 shares in the last quarter. TCG Advisory Services LLC purchased a new position in Sabine Royalty Trust during the 4th quarter worth $296,000. 1900 Wealth Management LLC grew its stake in shares of Sabine Royalty Trust by 26.6% in the 1st quarter. 1900 Wealth Management LLC now owns 4,765 shares of the energy company’s stock worth $303,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in Sabine Royalty Trust in the 4th quarter worth about $345,000. 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.