King Luther Capital Management Corp Reduces Stock Position in Sabine Royalty Trust (NYSE:SBR)

King Luther Capital Management Corp cut its stake in Sabine Royalty Trust (NYSE:SBR) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,107 shares of the energy company’s stock after selling 400 shares during the period. King Luther Capital Management Corp owned approximately 1.03% of Sabine Royalty Trust worth $10,186,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. increased its stake in shares of Sabine Royalty Trust by 2.8% during the 3rd quarter. Moors & Cabot Inc. now owns 10,967 shares of the energy company’s stock worth $723,000 after purchasing an additional 295 shares in the last quarter. Islay Capital Management LLC increased its stake in shares of Sabine Royalty Trust by 16.7% during the 4th quarter. Islay Capital Management LLC now owns 3,500 shares of the energy company’s stock worth $237,000 after purchasing an additional 500 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Sabine Royalty Trust by 23.5% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 5,167 shares of the energy company’s stock worth $340,000 after purchasing an additional 983 shares in the last quarter. Essex Financial Services Inc. increased its stake in shares of Sabine Royalty Trust by 12.6% during the 4th quarter. Essex Financial Services Inc. now owns 12,736 shares of the energy company’s stock worth $864,000 after purchasing an additional 1,422 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Sabine Royalty Trust by 40.9% during the 3rd quarter. HighTower Advisors LLC now owns 9,947 shares of the energy company’s stock worth $654,000 after purchasing an additional 2,887 shares in the last quarter. 15.81% of the stock is owned by hedge funds and other institutional investors.

Sabine Royalty Trust Stock Down 1.1 %

Shares of SBR traded down $0.70 during mid-day trading on Wednesday, reaching $62.81. 14,552 shares of the company’s stock were exchanged, compared to its average volume of 35,990. Sabine Royalty Trust has a 52-week low of $55.60 and a 52-week high of $75.60. The company has a 50-day simple moving average of $63.80 and a two-hundred day simple moving average of $63.63. The company has a market cap of $915.77 million, a price-to-earnings ratio of 11.02 and a beta of 0.51.

Sabine Royalty Trust (NYSE:SBR) last announced its earnings results on Thursday, February 29th. The energy company reported $2.30 earnings per share (EPS) for the quarter. Sabine Royalty Trust had a net margin of 96.22% and a return on equity of 1,059.92%. The firm had revenue of $34.35 million for the quarter.

Sabine Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be given a dividend of $0.598 per share. The ex-dividend date is Tuesday, May 14th. This represents a $7.18 dividend on an annualized basis and a yield of 11.42%. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.54. Sabine Royalty Trust’s dividend payout ratio (DPR) is 124.48%.

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.