PNC Financial Services Group Inc. Purchases 2,010 Shares of Sabine Royalty Trust (NYSE:SBR)

PNC Financial Services Group Inc. increased its position in shares of Sabine Royalty Trust (NYSE:SBR) by 153.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,324 shares of the energy company’s stock after buying an additional 2,010 shares during the period. PNC Financial Services Group Inc.’s holdings in Sabine Royalty Trust were worth $215,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new position in Sabine Royalty Trust in the fourth quarter valued at approximately $39,000. JPMorgan Chase & Co. increased its stake in shares of Sabine Royalty Trust by 79.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,028 shares of the energy company’s stock valued at $64,000 after acquiring an additional 456 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of Sabine Royalty Trust during the 4th quarter valued at $91,000. Captrust Financial Advisors bought a new position in Sabine Royalty Trust during the third quarter worth $230,000. Finally, M.E. Allison & CO. Inc. bought a new position in Sabine Royalty Trust during the fourth quarter worth $259,000. Institutional investors own 15.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Sabine Royalty Trust from a “hold” rating to a “buy” rating in a research note on Monday, February 10th.

Sabine Royalty Trust Price Performance

Shares of Sabine Royalty Trust stock opened at $66.52 on Monday. The business has a 50-day simple moving average of $66.70 and a 200 day simple moving average of $64.03. Sabine Royalty Trust has a one year low of $58.60 and a one year high of $70.20. The firm has a market capitalization of $969.72 million, a price-to-earnings ratio of 10.25 and a beta of 0.44.

Sabine Royalty Trust (NYSE:SBR) last released its quarterly earnings data on Thursday, February 27th. The energy company reported $1.27 earnings per share for the quarter. Sabine Royalty Trust had a net margin of 96.72% and a return on equity of 1,088.44%. The firm had revenue of $19.55 million for the quarter.

Sabine Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.3012 dividend. This represents a $3.61 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Monday, March 17th. This is a positive change from Sabine Royalty Trust’s previous monthly dividend of $0.14. Sabine Royalty Trust’s dividend payout ratio is currently 66.12%.

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.