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

Cross Timbers Royalty Trust (NYSE:CRT) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.35 and traded as high as $9.10. Cross Timbers Royalty Trust shares last traded at $8.99, with a volume of 105,142 shares traded.

Analyst Upgrades and Downgrades

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

Cross Timbers Royalty Trust Trading Up 0.7%

The firm has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $8.20. The firm has a market cap of $53.94 million, a P/E ratio of 11.99 and a beta of 0.12.

Cross Timbers Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.0501 dividend. This represents a c) annualized dividend and a yield of 6.7%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Friday, February 27th. Cross Timbers Royalty Trust’s payout ratio is presently 53.33%.

Institutional Trading of Cross Timbers Royalty Trust

Hedge funds have recently modified their holdings of the company. Scotia Capital Inc. purchased a new position in shares of Cross Timbers Royalty Trust in the 2nd quarter worth approximately $109,000. Bank of America Corp DE boosted 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 in the last quarter. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the third quarter worth $212,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Cross Timbers Royalty Trust by 23.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 2,651 shares during the last quarter. 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.