Sabine Royalty Trust (NYSE:SBR) Hits New 12-Month High – Should You Buy?

Sabine Royalty Trust (NYSE:SBR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $69.50 and last traded at $69.49, with a volume of 14990 shares trading hands. The stock had previously closed at $68.64.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research report on Monday, February 10th.

Sabine Royalty Trust Stock Down 1.1 %

The company has a market cap of $1.01 billion, a P/E ratio of 10.63 and a beta of 0.48. The business’s 50 day moving average is $66.05 and its 200 day moving average is $63.63.

Sabine Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a $0.4395 dividend. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date is Tuesday, February 18th. This represents a $5.27 dividend on an annualized basis and a yield of 7.65%. Sabine Royalty Trust’s dividend payout ratio is presently 81.20%.

Institutional Trading of Sabine Royalty Trust

Several hedge funds have recently made changes to their positions in the company. Signature Resources Capital Management LLC purchased a new position in shares of Sabine Royalty Trust during the 4th quarter worth approximately $39,000. Campbell Capital Management Inc. acquired a new stake in shares of Sabine Royalty Trust in the 4th quarter valued at $52,000. JPMorgan Chase & Co. raised its holdings in shares of Sabine Royalty Trust by 79.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock valued at $64,000 after purchasing an additional 456 shares in the last quarter. BankPlus Trust Department acquired a new stake in Sabine Royalty Trust during the 4th quarter worth $91,000. Finally, Virtus ETF Advisers LLC raised its stake in Sabine Royalty Trust by 14.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 2,923 shares of the energy company’s stock worth $189,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 15.81% of the company’s stock.

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.