Sabine Royalty Trust (NYSE:SBR) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 22,000 shares, a decrease of 17.0% from the June 30th total of 26,500 shares. Based on an average daily trading volume, of 20,300 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.2% of the shares of the company are short sold.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Sabine Royalty Trust by 48.2% during the second quarter. Morgan Stanley now owns 27,070 shares of the energy company’s stock valued at $1,308,000 after buying an additional 8,807 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Sabine Royalty Trust by 4.2% during the second quarter. Bank of America Corp DE now owns 32,468 shares of the energy company’s stock valued at $1,569,000 after buying an additional 1,301 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Sabine Royalty Trust during the second quarter valued at $31,000. BlackRock Inc. purchased a new stake in shares of Sabine Royalty Trust during the second quarter valued at $293,000. Finally, Chilton Capital Management LLC grew its holdings in shares of Sabine Royalty Trust by 0.6% during the second quarter. Chilton Capital Management LLC now owns 57,652 shares of the energy company’s stock valued at $2,767,000 after buying an additional 320 shares during the last quarter. 9.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SBR traded down $0.85 during midday trading on Wednesday, hitting $41.90. 26,700 shares of the stock traded hands, compared to its average volume of 21,499. The stock has a 50-day moving average price of $46.22. The stock has a market capitalization of $640.33 million, a price-to-earnings ratio of 12.77 and a beta of 0.51. Sabine Royalty Trust has a one year low of $30.27 and a one year high of $52.59.
Sabine Royalty Trust (NYSE:SBR) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported $0.68 earnings per share for the quarter. The firm had revenue of $10.50 million for the quarter. Sabine Royalty Trust had a return on equity of 871.57% and a net margin of 95.27%.
The company also recently declared a monthly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.229 per share. This represents a $2.75 annualized dividend and a dividend yield of 6.56%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, August 14th.
About Sabine Royalty Trust
Sabine Royalty Trust holds royalty and mineral interests in various 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.
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