Moors & Cabot Inc. Has $1.59 Million Stock Holdings in Sabine Royalty Trust (NYSE:SBR)

Moors & Cabot Inc. boosted its stake in shares of Sabine Royalty Trust (NYSE:SBR) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,659 shares of the energy company’s stock after acquiring an additional 1,661 shares during the quarter. Moors & Cabot Inc.’s holdings in Sabine Royalty Trust were worth $1,585,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SBR. Olistico Wealth LLC bought a new position in shares of Sabine Royalty Trust in the 2nd quarter valued at about $28,000. Family Firm Inc. bought a new position in shares of Sabine Royalty Trust in the second quarter valued at $48,000. Concurrent Investment Advisors LLC bought a new position in Sabine Royalty Trust during the second quarter worth $302,000. Hsbc Holdings PLC bought a new position in Sabine Royalty Trust during the second quarter worth $323,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in shares of Sabine Royalty Trust during the third quarter worth $327,000. Institutional investors own 15.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Sabine Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday.

Sabine Royalty Trust Price Performance

Shares of NYSE SBR opened at $61.86 on Thursday. Sabine Royalty Trust has a 12 month low of $57.73 and a 12 month high of $72.50. The stock has a 50-day moving average price of $61.44 and a two-hundred day moving average price of $62.99.

Sabine Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.5144 per share. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.44. This represents a $6.17 annualized dividend and a dividend yield of 9.98%. The ex-dividend date is Friday, November 15th. Sabine Royalty Trust’s payout ratio is 95.07%.

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.