PNC Financial Services Group Inc. Grows Stock Position in Sabine Royalty Trust (NYSE:SBR)

PNC Financial Services Group Inc. grew its position in shares of Sabine Royalty Trust (NYSE:SBR) by 153.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,324 shares of the energy company’s stock after buying an additional 2,010 shares during the period. PNC Financial Services Group Inc.’s holdings in Sabine Royalty Trust were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SBR. Signature Resources Capital Management LLC bought a new stake in Sabine Royalty Trust in the 4th quarter valued at about $39,000. JPMorgan Chase & Co. boosted its position in Sabine Royalty Trust by 79.7% during the third quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock worth $64,000 after purchasing an additional 456 shares during the period. BankPlus Trust Department purchased a new position in shares of Sabine Royalty Trust in the fourth quarter worth about $91,000. Captrust Financial Advisors bought a new stake in shares of Sabine Royalty Trust in the third quarter valued at approximately $230,000. Finally, M.E. Allison & CO. Inc. purchased a new stake in shares of Sabine Royalty Trust during the 4th quarter valued at approximately $259,000. Institutional investors own 15.81% of the company’s stock.

Sabine Royalty Trust Stock Performance

Shares of NYSE SBR opened at $66.52 on Monday. Sabine Royalty Trust has a fifty-two week low of $58.60 and a fifty-two week high of $70.20. The stock has a market cap of $969.72 million, a PE ratio of 10.25 and a beta of 0.44. The stock has a fifty day moving average of $66.70 and a 200-day moving average of $64.03.

Sabine Royalty Trust (NYSE:SBR) last issued its earnings results on Thursday, February 27th. The energy company reported $1.27 EPS for the quarter. Sabine Royalty Trust had a return on equity of 1,088.44% and a net margin of 96.72%. The business had revenue of $19.55 million during the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.3012 per share. The ex-dividend date is Monday, March 17th. This represents a $3.61 annualized dividend and a yield of 5.43%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. Sabine Royalty Trust’s payout ratio is currently 66.12%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Monday, February 10th.

Sabine Royalty Trust Profile

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.