Verdence Capital Advisors LLC Cuts Stock Position in Sabine Royalty Trust (NYSE:SBR)

Verdence Capital Advisors LLC cut its position in shares of Sabine Royalty Trust (NYSE:SBR) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,000 shares of the energy company’s stock after selling 600 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Sabine Royalty Trust were worth $679,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Moors & Cabot Inc. grew its position in Sabine Royalty Trust by 0.8% during the second quarter. Moors & Cabot Inc. now owns 23,998 shares of the energy company’s stock valued at $1,552,000 after acquiring an additional 201 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Sabine Royalty Trust in the second quarter worth about $28,000. American National Bank & Trust grew its position in Sabine Royalty Trust by 1.3% during the 3rd quarter. American National Bank & Trust now owns 36,668 shares of the energy company’s stock worth $2,265,000 after acquiring an additional 483 shares during the last quarter. Raymond James & Associates lifted its position in Sabine Royalty Trust by 2.3% in the second quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock valued at $1,710,000 after purchasing an additional 588 shares during the last quarter. Finally, Family Firm Inc. bought a new position in shares of Sabine Royalty Trust in the second quarter worth approximately $48,000. 15.81% of the stock is owned by hedge funds and other institutional investors.

Sabine Royalty Trust Trading Up 1.4 %

NYSE SBR opened at $63.20 on Monday. Sabine Royalty Trust has a fifty-two week low of $57.52 and a fifty-two week high of $72.50. The stock has a 50 day simple moving average of $61.38 and a two-hundred day simple moving average of $62.99.

Sabine Royalty Trust (NYSE:SBR) last announced its earnings results on Thursday, August 8th. The energy company reported $1.51 EPS for the quarter. The company had revenue of $22.78 million during the quarter. Sabine Royalty Trust had a return on equity of 1,098.84% and a net margin of 96.63%.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.5144 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.44. This represents a $6.17 annualized dividend and a yield of 9.77%. Sabine Royalty Trust’s dividend payout ratio is 85.46%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Monday, August 12th.

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.