Sabine Royalty Trust (NYSE:SBR) Upgraded at StockNews.com

Sabine Royalty Trust (NYSE:SBR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Sabine Royalty Trust Stock Performance

SBR stock opened at $62.68 on Wednesday. The company has a 50 day moving average price of $61.48 and a two-hundred day moving average price of $62.98. The stock has a market capitalization of $913.87 million, a P/E ratio of 9.66 and a beta of 0.47. Sabine Royalty Trust has a one year low of $57.73 and a one year high of $72.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Olistico Wealth LLC purchased a new position in shares of Sabine Royalty Trust in the 2nd quarter worth $28,000. Raymond James & Associates raised its holdings in shares of Sabine Royalty Trust by 2.3% in the 2nd quarter. Raymond James & Associates now owns 26,427 shares of the energy company’s stock worth $1,710,000 after purchasing an additional 588 shares during the period. Family Firm Inc. acquired a new position in shares of Sabine Royalty Trust in the 2nd quarter valued at about $48,000. TrueMark Investments LLC purchased a new stake in shares of Sabine Royalty Trust during the 2nd quarter worth about $1,107,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in Sabine Royalty Trust during the 2nd quarter worth approximately $302,000. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

Sabine Royalty Trust Company 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.