Sabine Royalty Trust (NYSE:SBR) Downgraded by StockNews.com to “Hold”

Sabine Royalty Trust (NYSE:SBR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Sabine Royalty Trust Price Performance

NYSE:SBR traded up $0.52 on Friday, reaching $66.83. The stock had a trading volume of 29,528 shares, compared to its average volume of 34,421. The stock has a fifty day moving average price of $64.22 and a 200-day moving average price of $63.05. Sabine Royalty Trust has a 1-year low of $57.73 and a 1-year high of $69.50.

Hedge Funds Weigh In On Sabine Royalty Trust

Several institutional investors have recently bought and sold shares of SBR. Signature Resources Capital Management LLC acquired a new stake in shares of Sabine Royalty Trust in the fourth quarter valued at $39,000. JPMorgan Chase & Co. increased its position in Sabine Royalty Trust by 79.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock valued at $64,000 after acquiring an additional 456 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Sabine Royalty Trust in the third quarter worth about $230,000. M.E. Allison & CO. Inc. bought a new position in shares of Sabine Royalty Trust in the fourth quarter worth about $259,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Sabine Royalty Trust by 733.3% during the third quarter. Sunbelt Securities Inc. now owns 5,000 shares of the energy company’s stock worth $309,000 after purchasing an additional 4,400 shares in the last quarter. Institutional investors own 15.81% of the company’s stock.

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.