Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $187,485.60 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 16,360 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was acquired at an average price of $11.46 per share, with a total value of $187,485.60. Following the completion of the transaction, the insider directly owned 1,005,873 shares of the company’s stock, valued at approximately $11,527,304.58. This represents a 1.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Price Performance

NYSE CRT traded up $1.04 on Tuesday, hitting $13.04. The company had a trading volume of 106,174 shares, compared to its average volume of 29,611. The company’s fifty day moving average price is $10.25 and its 200-day moving average price is $10.17. The company has a market capitalization of $78.21 million, a PE ratio of 24.59 and a beta of -0.04. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $13.15.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 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 company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.0679 dividend. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, August 31st. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. Cross Timbers Royalty Trust’s payout ratio is 152.83%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

An institutional investor recently bought a new stake in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management purchased a new stake in Cross Timbers Royalty Trust (NYSE:CRT) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,558 shares of the oil and gas company’s stock, valued at approximately $112,000. Ritholtz Wealth Management owned 0.18% of Cross Timbers Royalty Trust at the end of the most recent reporting period. 9.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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 analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average 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.