JPMorgan Chase & Co. Raises Stock Holdings in Sabine Royalty Trust (NYSE:SBR)

JPMorgan Chase & Co. boosted its stake in shares of Sabine Royalty Trust (NYSE:SBR) by 79.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,028 shares of the energy company’s stock after buying an additional 456 shares during the period. JPMorgan Chase & Co.’s holdings in Sabine Royalty Trust were worth $64,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its stake in Sabine Royalty Trust by 3.8% in the third quarter. State Street Corp now owns 6,505 shares of the energy company’s stock valued at $402,000 after buying an additional 239 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in Sabine Royalty Trust by 0.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 100,368 shares of the energy company’s stock worth $6,200,000 after acquiring an additional 710 shares during the period. Moors & Cabot Inc. grew its holdings in Sabine Royalty Trust by 6.9% during the third quarter. Moors & Cabot Inc. now owns 25,659 shares of the energy company’s stock worth $1,585,000 after acquiring an additional 1,661 shares during the period. Prospera Financial Services Inc grew its holdings in Sabine Royalty Trust by 12.1% in the third quarter. Prospera Financial Services Inc now owns 28,519 shares of the energy company’s stock valued at $1,762,000 after purchasing an additional 3,070 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Sabine Royalty Trust in the third quarter valued at approximately $230,000. Hedge funds and other institutional investors own 15.81% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Sabine Royalty Trust from a “buy” rating to a “hold” rating in a research note on Sunday.

Sabine Royalty Trust Stock Up 1.0 %

NYSE:SBR opened at $66.86 on Tuesday. Sabine Royalty Trust has a 52 week low of $57.73 and a 52 week high of $69.50. The company has a market capitalization of $974.82 million, a P/E ratio of 10.30 and a beta of 0.48. The stock’s fifty day moving average is $64.98 and its two-hundred day moving average is $63.10.

Sabine Royalty Trust (NYSE:SBR) last released its earnings results on Tuesday, November 12th. The energy company reported $1.31 EPS for the quarter. Sabine Royalty Trust had a return on equity of 1,088.44% and a net margin of 96.72%. The firm had revenue of $19.93 million during the quarter.

Sabine Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th were given a dividend of $0.4483 per share. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.14. This represents a $5.38 annualized dividend and a dividend yield of 8.05%. The ex-dividend date of this dividend was Wednesday, January 15th. Sabine Royalty Trust’s dividend payout ratio is currently 82.90%.

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.