**Oil and Gas Industry:** 100% of revenues

**TOP 3 Markets:**
1. **USA:** approximately 95%
2. **Canada:** approximately 3%
3. **Other international markets:** approximately 2%

Sabine Royalty Trust generates its revenues mainly from oil and gas production, with the majority of income coming from the USA. The Trust owns interests in various oil and gas fields, primarily located in the United States. Canada and other international markets contribute only a small portion to the total revenues. The focus on the US market reflects the Trust's strategic orientation, which depends on the geographical locations of the resources.

**Production Sites:** Texas, Louisiana, New Mexico, Oklahoma (As of 2023)

Sabine Royalty Trust is a trust that generates income from oil and gas production. The production areas are mainly located in the US states of Texas, Louisiana, New Mexico, and Oklahoma. The trust itself does not produce physical products, but receives royalties from the production of oil and gas in these regions.

**Dividend Yield:** 8.5% (2026, estimated)
**Current Payout per Share:** $5.00 (2026, estimated)

Sabine Royalty Trust pursues a conservative growth strategy that focuses heavily on maximizing payouts to shareholders. As a trust, SBR is designed to pass on income from oil and gas royalties directly to investors, rather than investing in expansion or acquisitions.

The company benefits from stable commodity prices and an efficient cost structure, allowing it to offer an attractive dividend yield. The strategy is to manage existing royalty interests optimally and capitalize on market conditions without making significant investments in new projects.

Future growth is expected to come primarily from developing new resources within existing properties and potential price increases in oil and gas. This enables the trust to continue ensuring high payouts, which is a crucial factor for many investors.

**Commodities:** Crude oil, natural gas

**Import countries:** No imports

Sabine Royalty Trust (NYSE:SBR) is a trust primarily operating in the United States, generating income from the production rights of crude oil and natural gas. The trust itself does not import commodities or materials as it is not engaged in the production or trading of commodities. Instead, it receives royalties from the production of crude oil and natural gas on the properties where it holds rights. These activities are mainly focused on the domestic market of the USA.

**Dividend Yield:** 7.5% (estimated 2026)
**Operating Margin:** 85% (2025)

Sabine Royalty Trust (NYSE:SBR) possesses a significant competitive advantage stemming from several factors. The high operating margin of 85% indicates that the company operates very efficiently and has optimized its cost structure. This is typical for companies in the realm of Royalty Trusts, which benefit from revenues generated by oil and gas production without having to invest in the costly production themselves.

Another advantage is the attractive estimated dividend yield of 7.5% in 2026. This high yield makes the stock particularly appealing to income-oriented investors and can serve as a stabilizing factor in volatile market phases.

Additionally, Sabine Royalty Trust benefits from long-term contracts and a diversified revenue source from various oil and gas fields. This diversification reduces the risk associated with commodity price fluctuations and strengthens the company's position compared to competitors that are more reliant on individual projects.

**Institutional Investor Share:** approximately 25% (2026, estimated)
**Insider Buys/Sells:** No significant transactions reported (last 12 months)

The institutional investor share in Sabine Royalty Trust is estimated to be around 25%. This is typical for trusts, as they are often preferred by individual investors who rely on regular payouts.

There have been no significant insider buys or sells in the last 12 months. This may indicate that the management has confidence in the current business development and sees no need to change their positions.

**Market share of Sabine Royalty Trust (SBR):** Estimated around 0.5% (2026, based on market size and typical market shares of Royalty Trusts)

**Main competitors and their market shares:**

1. **BP Prudhoe Bay Royalty Trust (BPT):** Estimated around 1.0%
2. **Permian Basin Royalty Trust (PBT):** Estimated around 0.8%
3. **Cross Timbers Royalty Trust (CRT):** Estimated around 0.6%
4. **San Juan Basin Royalty Trust (SJT):** Estimated around 0.7%
5. **Hugoton Royalty Trust (HGTXU):** Estimated around 0.4%

**Economic moat of Sabine Royalty Trust:**

Sabine Royalty Trust has a moderate economic moat, mainly attributed to its diversified ownership of oil and gas assets in the USA. This diversification provides a certain stability against price fluctuations and production risks.

In comparison to its competitors, Sabine Royalty Trust does not have significant technological or operational advantages, but its stable distribution policy and geographic asset diversification offer a certain level of protection.

Competitors, especially BP Prudhoe Bay Royalty Trust, may have a stronger economic moat as they benefit from specific, high-yielding fields that may offer higher returns. However, these are also more susceptible to specific regional risks.

Overall, Sabine Royalty Trust has a solid, but not exceptional, economic moat compared to its competitors.

**Revenue Growth:** 4.5% (2025)
**Profit Growth:** 3.8% (2025)
**Dividend Yield:** 8.2% (2025)

Sabine Royalty Trust has experienced moderate revenue and profit growth in recent years. The dividend yield of 8.2% in 2025 is attractive and indicates a strong payout policy that may be of interest to income investors.

The company benefits from stable income from its oil and gas royalty rights, providing a certain level of security regarding future cash flows. However, it is important to consider the volatility of commodity prices, which can impact revenues.

Overall, Sabine Royalty Trust could be an interesting investment for investors seeking a high dividend yield and willing to accept the risks associated with commodity price fluctuations.

**Dividend Yield:** 8.5% (estimated for 2026)

**Dividend History:** Regular monthly distributions

Sabine Royalty Trust is known for its reliable monthly dividend payments, which are derived from the proceeds of oil and gas production. The dividend yield of approximately 8.5% for 2026 is based on current commodity prices and production performance.

However, the distributions are heavily dependent on market conditions for oil and gas. Fluctuations in commodity prices can affect the amount of dividends. Historically, the Trust has maintained a solid distribution policy, making it attractive to income-oriented investors.