29,620 Shares in Sabine Royalty Trust (NYSE:SBR) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Sabine Royalty Trust (NYSE:SBR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,620 shares of the energy company’s stock, valued at approximately $1,920,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Financial Services LTD. grew its position in Sabine Royalty Trust by 14.6% during the 4th quarter. Howard Financial Services LTD. now owns 77,336 shares of the energy company’s stock worth $5,012,000 after acquiring an additional 9,840 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Sabine Royalty Trust by 15.4% during the fourth quarter. Blue Trust Inc. now owns 28,842 shares of the energy company’s stock valued at $1,869,000 after purchasing an additional 3,850 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Sabine Royalty Trust by 2.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 28,211 shares of the energy company’s stock worth $1,828,000 after purchasing an additional 597 shares during the last quarter. Sendero Wealth Management LLC acquired a new position in shares of Sabine Royalty Trust in the fourth quarter valued at approximately $838,000. Finally, State Street Corp raised its holdings in Sabine Royalty Trust by 3.8% in the 3rd quarter. State Street Corp now owns 6,505 shares of the energy company’s stock valued at $402,000 after buying an additional 239 shares during the last quarter. Institutional investors own 15.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sabine Royalty Trust Stock Up 0.8 %

Shares of Sabine Royalty Trust stock opened at $67.53 on Tuesday. The stock has a market cap of $984.48 million, a price-to-earnings ratio of 10.40 and a beta of 0.44. Sabine Royalty Trust has a twelve month low of $58.60 and a twelve month high of $70.20. The company’s fifty day moving average is $66.77 and its 200 day moving average is $64.31.

Sabine Royalty Trust (NYSE:SBR) last released its quarterly 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 firm had revenue of $19.55 million for the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.3012 per share. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date was Monday, March 17th. This represents a $3.61 annualized dividend and a yield of 5.35%. Sabine Royalty Trust’s dividend payout ratio (DPR) is presently 66.12%.

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.