Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 13,132 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 13,132 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $9.95 per share, for a total transaction of $130,663.40. Following the acquisition, the insider owned 938,092 shares in the company, valued at approximately $9,334,015.40. The trade was a 1.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 0.7%

Cross Timbers Royalty Trust stock opened at $10.18 on Friday. The firm has a market cap of $61.05 million, a P/E ratio of 18.84 and a beta of -0.05. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The firm has a 50-day moving average of $9.68 and a 200-day moving average of $9.83.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.0614 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 7.2%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 137.04%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in CRT. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth approximately $157,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth $112,000. O Shaughnessy Asset Management LLC grew its stake in shares of 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 acquiring an additional 2,651 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust during the third quarter valued at $212,000. Finally, Bank of America Corp DE raised its position in shares of Cross Timbers Royalty Trust by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,612 shares during the last quarter. Institutional investors own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.