Cross Timbers Royalty Trust (NYSE:CRT) Stock Passes Above 50-Day Moving Average – Here’s Why

Cross Timbers Royalty Trust (NYSE:CRT) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.27 and traded as high as $8.60. Cross Timbers Royalty Trust shares last traded at $8.5150, with a volume of 16,226 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Cross Timbers Royalty Trust Price Performance

The firm’s fifty day moving average is $8.27 and its 200 day moving average is $8.26. The firm has a market capitalization of $51.09 million, a price-to-earnings ratio of 11.35 and a beta of 0.12.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, November 13th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 79.29% and a return on equity of 191.25%.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.0329 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 4.6%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 53.33%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust in the 2nd quarter valued at approximately $169,000. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. Bank of America Corp DE lifted its stake in Cross Timbers Royalty Trust by 81.3% in the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,612 shares during the last quarter. Finally, Scotia Capital Inc. bought a new stake in Cross Timbers Royalty Trust in the second quarter worth approximately $109,000. 9.74% of the stock is owned by hedge funds and other institutional investors.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust (NYSE:CRT) is a Delaware statutory trust that holds royalty interests in a portfolio of onshore oil and natural gas properties. The trust was established in June 2005 through a contribution of assets by Chesapeake Energy Corporation. It earns revenue by collecting overriding royalty and net profit interests carved out of producing leases and then distributing those receipts to its unitholders on a quarterly basis.

The underlying assets of the trust consist primarily of oil, natural gas and natural gas liquids reserves located in several Texas counties, including Erath, Stephens, Comanche and Palo Pinto.