Sabine Royalty Trust (NYSE:SBR) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Sabine Royalty Trust (NYSE:SBR) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $63.09 and traded as low as $63.04. Sabine Royalty Trust shares last traded at $63.40, with a volume of 33,240 shares.

Wall Street Analysts Forecast Growth

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

Sabine Royalty Trust Price Performance

The stock’s 50-day simple moving average is $62.62 and its 200 day simple moving average is $63.09.

Sabine Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.3112 dividend. This represents a $3.73 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date is Monday, December 16th. Sabine Royalty Trust’s dividend payout ratio is presently 95.07%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC lifted its stake in Sabine Royalty Trust by 0.7% in the third quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock valued at $6,200,000 after buying an additional 710 shares during the last quarter. Howard Financial Services LTD. grew its holdings in shares of Sabine Royalty Trust by 160.8% during the third quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock worth $4,158,000 after buying an additional 41,618 shares during the last quarter. Commonwealth Equity Services LLC increased 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 during the period. American National Bank & Trust raised its stake in Sabine Royalty Trust by 1.3% during the 3rd quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock valued at $2,265,000 after acquiring an additional 483 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its position in Sabine Royalty Trust by 12.1% during the 3rd quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock worth $1,762,000 after acquiring an additional 3,070 shares during the period. 15.81% of the stock is owned by institutional investors and hedge funds.

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.