Sabine Royalty Trust (NYSE:SBR) Sees Significant Increase in Short Interest

Sabine Royalty Trust (NYSE:SBR) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 14,000 shares, a growth of 27.3% from the October 31st total of 11,000 shares. Based on an average daily volume of 35,100 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

Sabine Royalty Trust Price Performance

NYSE SBR traded down $0.57 during mid-day trading on Monday, reaching $64.43. The stock had a trading volume of 41,440 shares, compared to its average volume of 35,995. The company has a fifty day moving average price of $61.93 and a 200 day moving average price of $62.98. Sabine Royalty Trust has a 1 year low of $57.73 and a 1 year high of $72.50.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.5144 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.17 annualized dividend and a dividend yield of 9.58%. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.44. Sabine Royalty Trust’s dividend payout ratio (DPR) is 95.07%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds have recently made changes to their positions in the business. Howard Financial Services LTD. raised its holdings in Sabine Royalty Trust by 160.8% during the 3rd quarter. Howard Financial Services LTD. now owns 67,496 shares of the energy company’s stock valued at $4,158,000 after buying an additional 41,618 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Sabine Royalty Trust by 491.9% in the third quarter. Concurrent Investment Advisors LLC now owns 27,614 shares of the energy company’s stock worth $1,702,000 after purchasing an additional 22,949 shares during the last quarter. BWM Planning LLC acquired a new position in shares of Sabine Royalty Trust during the third quarter valued at about $1,331,000. TrueMark Investments LLC acquired a new stake in shares of Sabine Royalty Trust during the second quarter worth $1,107,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Sabine Royalty Trust by 77.1% in the second quarter. Commonwealth Equity Services LLC now owns 38,820 shares of the energy company’s stock valued at $2,511,000 after purchasing an additional 16,902 shares during the period. 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.