Sabine Royalty Trust (NYSE:SBR) Stock Price Down 2.7% – Time to Sell?

Sabine Royalty Trust (NYSE:SBR)’s share price was down 2.7% during trading on Tuesday . The stock traded as low as $63.81 and last traded at $64.01. Approximately 38,672 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 37,524 shares. The stock had previously closed at $65.82.

Analyst Ratings Changes

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 Trading Down 2.8 %

The company has a 50 day moving average of $62.66 and a 200 day moving average of $63.00. The firm has a market cap of $932.97 million, a price-to-earnings ratio of 9.86 and a beta of 0.48.

Sabine Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 30th. Stockholders 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 dividend yield of 5.84%. The ex-dividend date is Monday, December 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 57.47%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of SBR. Captrust Financial Advisors bought a new position in shares of Sabine Royalty Trust in the third quarter valued at about $230,000. Concurrent Investment Advisors LLC bought a new position in Sabine Royalty Trust in the second quarter valued at about $302,000. Hsbc Holdings PLC bought a new position in Sabine Royalty Trust in the second quarter valued at approximately $323,000. Sunbelt Securities Inc. grew its position in shares of Sabine Royalty Trust by 733.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 5,000 shares of the energy company’s stock worth $309,000 after buying an additional 4,400 shares during the period. Finally, Philip James Wealth Mangement LLC bought a new position in Sabine Royalty Trust during the 3rd quarter worth approximately $327,000. Institutional investors and hedge funds 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.