Sabine Royalty Trust (NYSE:SBR) Short Interest Update
by Sarita Garza · The Markets DailySabine Royalty Trust (NYSE:SBR – Get Free Report) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 8,511 shares, a growth of 31.6% from the February 12th total of 6,465 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 34,983 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 34,983 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.
Sabine Royalty Trust Stock Up 0.7%
SBR stock traded up $0.55 during trading on Monday, hitting $75.65. The company had a trading volume of 76,858 shares, compared to its average volume of 34,569. The firm has a 50-day moving average price of $70.56 and a 200-day moving average price of $72.60. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 13.93 and a beta of 0.28. Sabine Royalty Trust has a 12 month low of $58.25 and a 12 month high of $84.39.
Sabine Royalty Trust Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $0.2862 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.28. This represents a c) dividend on an annualized basis and a yield of 4.5%. Sabine Royalty Trust’s payout ratio is presently 62.62%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sabine Royalty Trust in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.
Get Our Latest Stock Report on Sabine Royalty Trust
Institutional Investors Weigh In On Sabine Royalty Trust
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Olistico Wealth LLC bought a new position in Sabine Royalty Trust in the fourth quarter valued at approximately $29,000. WealthCollab LLC raised its holdings in Sabine Royalty Trust by 124.1% in the 4th quarter. WealthCollab LLC now owns 437 shares of the energy company’s stock valued at $30,000 after acquiring an additional 242 shares during the period. Allworth Financial LP boosted its stake in Sabine Royalty Trust by 51.8% in the 3rd quarter. Allworth Financial LP now owns 586 shares of the energy company’s stock valued at $47,000 after purchasing an additional 200 shares during the period. Fifth Third Bancorp boosted its holdings in Sabine Royalty Trust by 85.6% in the 3rd quarter. Fifth Third Bancorp now owns 659 shares of the energy company’s stock valued at $52,000 after purchasing an additional 304 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Sabine Royalty Trust by 79.2% in the second quarter. BNP Paribas Financial Markets now owns 708 shares of the energy company’s stock valued at $47,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 15.81% of the company’s stock.
Sabine Royalty Trust Company 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.