Eric Oliver Acquires 3,747 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 3,747 shares of the stock in a transaction on Wednesday, April 15th. The stock was bought at an average price of $10.48 per share, for a total transaction of $39,268.56. Following the transaction, the insider owned 758,212 shares in the company, valued at approximately $7,946,061.76. This represents a 0.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Down 0.1%

Shares of NYSE CRT traded down $0.01 during midday trading on Thursday, reaching $10.55. 8,723 shares of the stock were exchanged, compared to its average volume of 39,681. The firm has a market cap of $63.29 million, a price-to-earnings ratio of 13.88 and a beta of 0.03. The firm has a 50-day simple moving average of $9.60 and a two-hundred day simple moving average of $8.62. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share for the quarter. The firm had revenue of $1.64 million during the quarter. Cross Timbers Royalty Trust had a net margin of 77.77% and a return on equity of 198.98%.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.0009 per share. This represents a c) annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Cross Timbers Royalty Trust’s payout ratio is 78.95%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Cross Timbers Royalty Trust by 23.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 2,651 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter worth $212,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Cross Timbers Royalty Trust Company Profile

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.