Sabine Royalty Trust (NYSE:SBR) Stock Passes Below 50-Day Moving Average of $43.63

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Sabine Royalty Trust (NYSE:SBR)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $43.63 and traded as low as $43.18. Sabine Royalty Trust shares last traded at $43.38, with a volume of 910 shares changing hands.

The company’s 50-day moving average price is $43.58 and its two-hundred day moving average price is $46.55. The stock has a market cap of $659.42 million, a PE ratio of 13.15 and a beta of 0.54.

Sabine Royalty Trust (NYSE:SBR) last posted its quarterly earnings data on Wednesday, August 7th. The energy company reported $0.68 earnings per share for the quarter. The firm had revenue of $10.50 million for the quarter. Sabine Royalty Trust had a net margin of 95.27% and a return on equity of 952.29%.

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.2413 per share. The ex-dividend date is Friday, September 13th. This represents a $2.90 annualized dividend and a dividend yield of 6.70%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14.

Several institutional investors have recently bought and sold shares of SBR. Renaissance Technologies LLC purchased a new stake in shares of Sabine Royalty Trust during the 2nd quarter valued at $457,000. Morgan Stanley raised its position in Sabine Royalty Trust by 48.2% in the 2nd quarter. Morgan Stanley now owns 27,070 shares of the energy company’s stock worth $1,308,000 after purchasing an additional 8,807 shares during the period. Russell Investments Group Ltd. raised its position in Sabine Royalty Trust by 94.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 14,424 shares of the energy company’s stock worth $695,000 after purchasing an additional 7,004 shares during the period. BlackRock Inc. purchased a new position in Sabine Royalty Trust in the 2nd quarter worth $293,000. Finally, Exencial Wealth Advisors LLC raised its position in Sabine Royalty Trust by 47.8% in the 1st quarter. Exencial Wealth Advisors LLC now owns 17,672 shares of the energy company’s stock worth $820,000 after purchasing an additional 5,716 shares during the period. Hedge funds and other institutional investors own 10.01% of the company’s stock.

About Sabine Royalty Trust (NYSE:SBR)

Sabine Royalty Trust holds royalty and mineral interests in various 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.

See Also: Why is the ex-dividend date different from the record date?

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