Sabine Royalty Trust (NYSE:SBR) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Sabine Royalty Trust (NYSE:SBR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $63.09 and traded as low as $63.04. Sabine Royalty Trust shares last traded at $63.40, with a volume of 33,240 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Sabine Royalty Trust Trading Up 0.3 %

The company’s fifty day moving average is $62.62 and its 200-day moving average is $63.09.

Sabine Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.3112 per share. This represents a $3.73 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Monday, December 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 95.07%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Howard Financial Services LTD. boosted its holdings in Sabine Royalty Trust by 160.8% in the 3rd 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 lifted its position in shares of Sabine Royalty Trust by 491.9% in the third quarter. Concurrent Investment Advisors LLC now owns 27,614 shares of the energy company’s stock valued at $1,702,000 after acquiring an additional 22,949 shares in the last quarter. BWM Planning LLC purchased a new stake in shares of Sabine Royalty Trust during the third quarter worth approximately $1,331,000. TrueMark Investments LLC purchased a new stake in shares of Sabine Royalty Trust during the second quarter worth approximately $1,107,000. Finally, Commonwealth Equity Services LLC raised its stake in Sabine Royalty Trust by 77.1% in the 2nd 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 last quarter. Hedge funds and other institutional investors 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.