Sabine Royalty Trust (NYSE:SBR) Stock Rating Upgraded by StockNews.com

Sabine Royalty Trust (NYSE:SBR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Sabine Royalty Trust Price Performance

Shares of Sabine Royalty Trust stock opened at $62.68 on Wednesday. The stock’s 50 day simple moving average is $61.48 and its 200-day simple moving average is $62.98. The stock has a market cap of $913.87 million, a P/E ratio of 9.66 and a beta of 0.47. Sabine Royalty Trust has a 1-year low of $57.73 and a 1-year high of $72.50.

Hedge Funds Weigh In On Sabine Royalty Trust

A number of hedge funds have recently modified their holdings of the business. Olistico Wealth LLC purchased a new stake in shares of Sabine Royalty Trust during the 2nd quarter worth $28,000. Family Firm Inc. purchased a new stake in Sabine Royalty Trust during the second quarter worth about $48,000. Captrust Financial Advisors acquired a new position in Sabine Royalty Trust during the third quarter worth about $230,000. Concurrent Investment Advisors LLC purchased a new position in Sabine Royalty Trust in the second quarter valued at about $302,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Sabine Royalty Trust during the 2nd quarter valued at approximately $323,000. 15.81% of the stock is currently owned by hedge funds and other institutional investors.

Sabine Royalty Trust Company 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.