Sabine Royalty Trust (NYSE:SBR) Issues Earnings Results

Sabine Royalty Trust (NYSE:SBR) announced its quarterly earnings results on Friday. The energy company reported $1.31 earnings per share (EPS) for the quarter, Zacks reports. Sabine Royalty Trust had a net margin of 94.90% and a return on equity of 961.80%. The company had revenue of $19.72 million for the quarter.

Sabine Royalty Trust Trading Down 0.6%

Shares of NYSE:SBR traded down $0.39 on Friday, hitting $65.47. The company had a trading volume of 45,578 shares, compared to its average volume of 20,597. The company has a market cap of $954.60 million, a PE ratio of 13.36 and a beta of 0.30. Sabine Royalty Trust has a 52-week low of $65.06 and a 52-week high of $79.86. The business has a 50 day moving average of $72.31 and a 200 day moving average of $73.33.

Sabine Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be given a $0.3604 dividend. This is an increase from Sabine Royalty Trust’s previous monthly dividend of $0.3554. This represents a $4.32 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Monday, November 16th. Sabine Royalty Trust’s dividend payout ratio (DPR) is currently 87.14%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Sabine Royalty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

About Sabine Royalty Trust

Sabine Royalty Trust is a grantor trust formed in 1982 to own and administer royalty and mineral interests in oil and natural gas properties. The trust does not explore for, develop, or operate wells; instead, it receives royalty payments and other proceeds generated from production on properties in which it holds interests.

Its interests are located primarily across several U.S. states, including Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. Revenue generally depends on the volume of oil and natural gas produced from the underlying properties, commodity prices, and the operating activity of the companies that develop and manage those properties.

Sabine Royalty Trust is listed on the New York Stock Exchange under the symbol SBR.