Sabine Royalty Trust (NYSE:SBR – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Shares of SBR stock traded up $0.61 during trading hours on Friday, hitting $55.35. 47,286 shares of the company were exchanged, compared to its average volume of 89,477. The firm has a fifty day simple moving average of $52.62 and a 200 day simple moving average of $45.81. Sabine Royalty Trust has a 52-week low of $29.60 and a 52-week high of $63.97. The stock has a market capitalization of $807.00 million, a price-to-earnings ratio of 19.77 and a beta of 0.53.
A number of institutional investors have recently added to or reduced their stakes in SBR. Thrivent Financial for Lutherans purchased a new position in Sabine Royalty Trust in the 4th quarter valued at approximately $1,018,000. Koshinski Asset Management Inc. purchased a new position in shares of Sabine Royalty Trust during the 3rd quarter valued at $945,000. Moors & Cabot Inc. grew its position in shares of Sabine Royalty Trust by 256.6% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the energy company’s stock valued at $25,000 after purchasing an additional 17,990 shares in the last quarter. U S Global Investors Inc. lifted its holdings in shares of Sabine Royalty Trust by 300.0% during the 3rd quarter. U S Global Investors Inc. now owns 20,000 shares of the energy company’s stock worth $857,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of Sabine Royalty Trust by 108.0% during the 4th quarter. Citadel Advisors LLC now owns 23,575 shares of the energy company’s stock worth $983,000 after acquiring an additional 12,243 shares during the last quarter.
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.
