Sabine Royalty Trust (NYSE:SBR) Stock Position Lessened by Edge Capital Group LLC

Edge Capital Group LLC trimmed its holdings in shares of Sabine Royalty Trust (NYSE:SBR) by 94.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,609 shares of the energy company’s stock after selling 29,506 shares during the period. Edge Capital Group LLC’s holdings in Sabine Royalty Trust were worth $104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC increased its stake in 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 valued at $1,702,000 after buying an additional 22,949 shares during the period. Philip James Wealth Mangement LLC acquired a new position in shares of Sabine Royalty Trust during the third quarter valued at approximately $327,000. Prospera Financial Services Inc raised its holdings in Sabine Royalty Trust by 12.1% during the third quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock worth $1,762,000 after purchasing an additional 3,070 shares in the last quarter. Moors & Cabot Inc. lifted its position in Sabine Royalty Trust by 6.9% in the third quarter. Moors & Cabot Inc. now owns 25,659 shares of the energy company’s stock worth $1,585,000 after purchasing an additional 1,661 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its position in Sabine Royalty Trust by 0.7% in the third quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock worth $6,200,000 after purchasing an additional 710 shares during the period. 15.81% of the stock is currently owned by institutional investors.

Sabine Royalty Trust Stock Down 0.2 %

Shares of NYSE SBR opened at $68.97 on Tuesday. The stock’s fifty day simple moving average is $66.17 and its 200 day simple moving average is $63.71. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.63 and a beta of 0.48. Sabine Royalty Trust has a 52-week low of $58.60 and a 52-week high of $70.20.

Sabine Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.4395 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.27 dividend on an annualized basis and a yield of 7.65%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 81.20%.

Analysts Set New Price Targets

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

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.