Sabine Royalty Trust (NYSE:SBR) Upgraded at StockNews.com

StockNews.com upgraded shares of Sabine Royalty Trust (NYSE:SBR) from a hold rating to a buy rating in a report issued on Wednesday morning.

Sabine Royalty Trust Trading Up 0.6 %

Shares of SBR opened at $63.07 on Wednesday. The business’s fifty day moving average is $61.58 and its 200 day moving average is $62.98. Sabine Royalty Trust has a 12-month low of $57.73 and a 12-month high of $72.50.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.5144 dividend. This represents a $6.17 dividend on an annualized basis and a yield of 9.79%. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.44. The ex-dividend date of this dividend is Friday, November 15th. Sabine Royalty Trust’s dividend payout ratio is presently 95.07%.

Institutional Trading of Sabine Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of SBR. Howard Financial Services LTD. increased its holdings in 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. Concurrent Investment Advisors LLC increased its stake in shares of Sabine Royalty Trust by 491.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 27,614 shares of the energy company’s stock worth $1,702,000 after purchasing an additional 22,949 shares during the last quarter. BWM Planning LLC bought a new stake in shares of Sabine Royalty Trust in the 3rd quarter worth approximately $1,331,000. TrueMark Investments LLC purchased a new position in Sabine Royalty Trust in the second quarter valued at approximately $1,107,000. Finally, Commonwealth Equity Services LLC grew its holdings in Sabine Royalty Trust by 77.1% during the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock valued at $2,511,000 after purchasing an additional 16,902 shares during the period. 15.81% of the stock is owned by hedge funds and other institutional investors.

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.