Eric Oliver Purchases 6,142 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 6,142 shares of the stock in a transaction dated Tuesday, September 8th. The shares were purchased at an average price of $10.94 per share, with a total value of $67,193.48. Following the completion of the acquisition, the insider owned 982,379 shares of the company’s stock, valued at approximately $10,747,226.26. This represents a 0.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Down 0.2%

Shares of NYSE:CRT traded down $0.03 during trading on Thursday, reaching $11.28. The stock had a trading volume of 10,251 shares, compared to its average volume of 29,059. The stock has a market cap of $67.70 million, a P/E ratio of 21.29 and a beta of -0.04. The business has a fifty day moving average price of $10.09 and a 200-day moving average price of $10.11. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.50.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.0679 per share. This represents a c) annualized dividend and a dividend yield of 7.2%. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date is Monday, August 31st. Cross Timbers Royalty Trust’s payout ratio is 152.83%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Cross Timbers Royalty Trust by 81.2% 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 during the period. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust during the first quarter worth approximately $112,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Cross Timbers Royalty Trust by 23.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 2,651 shares during the last quarter. Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus 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.