Bessemer Group Inc. Trims Stake in Sabine Royalty Trust (SBR)

Bessemer Group Inc. decreased its holdings in shares of Sabine Royalty Trust (NYSE:SBR) by 48.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the energy company’s stock after selling 5,600 shares during the period. Bessemer Group Inc.’s holdings in Sabine Royalty Trust were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of SBR. Millennium Management LLC acquired a new position in shares of Sabine Royalty Trust in the first quarter worth about $210,000. Sfmg LLC acquired a new position in shares of Sabine Royalty Trust in the second quarter worth about $226,000. Russell Investments Group Ltd. boosted its holdings in shares of Sabine Royalty Trust by 182.9% in the third quarter. Russell Investments Group Ltd. now owns 9,900 shares of the energy company’s stock worth $417,000 after buying an additional 6,400 shares during the period. Adviser Investments LLC acquired a new position in shares of Sabine Royalty Trust in the second quarter worth about $481,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Sabine Royalty Trust by 21.5% in the third quarter. Cullen Frost Bankers Inc. now owns 12,478 shares of the energy company’s stock worth $526,000 after buying an additional 2,204 shares during the period. Institutional investors own 9.83% of the company’s stock.

Shares of SBR opened at $36.99 on Friday. Sabine Royalty Trust has a one year low of $35.82 and a one year high of $50.00. The stock has a market capitalization of $547.02 million, a price-to-earnings ratio of 16.53 and a beta of 0.32.

The company also recently announced a monthly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be issued a $0.4039 dividend. This represents a $4.85 annualized dividend and a dividend yield of 13.10%. This is a boost from Sabine Royalty Trust’s previous monthly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, November 14th.

COPYRIGHT VIOLATION NOTICE: This report was posted by WKRB News and is the sole property of of WKRB News. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://www.wkrb13.com/2018/11/24/bessemer-group-inc-trims-stake-in-sabine-royalty-trust-sbr.html.

About Sabine Royalty Trust

Sabine Royalty Trust holds royalty and mineral interests in various 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.

Featured Article: Trading Penny Stocks

Want to see what other hedge funds are holding SBR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sabine Royalty Trust (NYSE:SBR).

Institutional Ownership by Quarter for Sabine Royalty Trust (NYSE:SBR)

Receive News & Ratings for Sabine Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sabine Royalty Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply