Sabine Royalty Trust (NYSE:SBR) Hits New 52-Week High After Dividend Announcement

Shares of Sabine Royalty Trust (NYSE:SBR – Get Rating) hit a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $84.50 and last traded at $84.50, with volume of 240 shares changing hands. The stock previously closed at $81.04. The newly announced dividend which will be paid on Wednesday, June 29. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.72 per share. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.60. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $8.64 and a dividend yield of 10.10%.

Separately, downgraded Sabine Royalty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, May 24.

The company’s 50-day moving average price is $65.60 and its 200-day moving average price is $54.66.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBR. LPL Financial LLC increased its holdings of Sabine Royalty Trust shares by 5.2% during the third quarter. LPL Financial LLC now owns 8,601 shares of the energy company worth $368,000 after buying 425 additional shares in the last quarter. Archer Investment Corp bought a new position in shares of Sabine Royalty Trust in Q1 worth around $37,000. Moors & Cabot Inc. increased its stake 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 worth $524,000 after buying 600 more shares in the last quarter. Dorsey Wright & Associates purchased a new equity stake in Sabine Royalty Trust during the first quarter valued at approximately $43,000. Finally, Citizens National Bank Trust Department acquired a new equity stake in Sabine Royalty Trust during the fourth quarter at a value of $42,000.

(A d)

Whether you’re looking to learn the basics of futures or you’re a seasoned veteran looking to hone your trading skills, our technical analysis guide has everything you need to succeed in today’s futures markets. today!

Company Profile Sabine Royalty Trust (NYSE: SBR)

Sabine Royalty Trust owns royalties and mineral interests in various oil and gas producing properties in the United States. The Company’s royalties and mining interests include landowner’s royalties, overriding royalty interests, minerals, production payments and other similar non-participating interests in certain undeveloped and proven oil and gas properties located in Florida, in Louisiana, Mississippi, New Mexico, Oklahoma and Texas.

See also

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Sabine Royalty Trust right now?

Before you consider Sabine Royalty Trust, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes wild…and Sabine Royalty Trust was not on the list.

While Sabine Royalty Trust currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

About Catherine Wilson

Check Also

First Trust Tactical High Yield ETF (NASDAQ:HYLS) Sees Sharp Drop in Short-Term Interest

The First Trust Tactical High Yield ETF (NASDAQ:HYLS – Get Rating) saw a sharp decline …