Sabine Royalty Trust (NYSE:SBR) Announces Dividend Increase – $0.83 Per Share

Sabine Royalty Trust (NYSE:SBRGet Rating) announced a quarterly dividend on Friday, August 5th, Zacks reports. Stockholders of record on Monday, August 15th will be paid a dividend of 0.829 per share by the energy company on Monday, August 29th. This represents a $3.32 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, August 12th. This is a boost from Sabine Royalty Trust’s previous quarterly dividend of $0.39.

Sabine Royalty Trust Stock Up 4.2 %

NYSE:SBR traded up $2.71 during mid-day trading on Friday, hitting $66.82. The stock had a trading volume of 53,919 shares, compared to its average volume of 63,848. The stock has a 50-day simple moving average of $67.69 and a two-hundred day simple moving average of $61.76. Sabine Royalty Trust has a twelve month low of $37.00 and a twelve month high of $90.73.

Sabine Royalty Trust (NYSE:SBRGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The energy company reported $1.58 EPS for the quarter. The company had revenue of $23.93 million for the quarter. Sabine Royalty Trust had a net margin of 95.76% and a return on equity of 707.91%.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds have recently modified their holdings of SBR. Raymond James & Associates grew its position in shares of Sabine Royalty Trust by 33.7% during the first quarter. Raymond James & Associates now owns 20,285 shares of the energy company’s stock worth $1,171,000 after acquiring an additional 5,108 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Sabine Royalty Trust by 56.4% during the first quarter. HighTower Advisors LLC now owns 9,020 shares of the energy company’s stock worth $521,000 after purchasing an additional 3,254 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of Sabine Royalty Trust during the first quarter worth $284,000. Moors & Cabot Inc. lifted its holdings in shares of Sabine Royalty Trust by 7.1% during the first quarter. Moors & Cabot Inc. now owns 9,080 shares of the energy company’s stock worth $524,000 after purchasing an additional 600 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Sabine Royalty Trust by 7.8% during the first quarter. UBS Group AG now owns 17,071 shares of the energy company’s stock worth $986,000 after purchasing an additional 1,232 shares during the period.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Sabine Royalty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th.

Sabine Royalty Trust Company Profile

(Get Rating)

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States. The company's 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.

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Dividend History for Sabine Royalty Trust (NYSE:SBR)

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