Cross Timbers Royalty Trust (NYSE:CRT) Posts Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) announced its quarterly earnings data on Friday. The oil and gas company reported $0.19 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Stock Performance

Cross Timbers Royalty Trust stock traded up $0.37 during trading hours on Friday, reaching $12.87. 13,043 shares of the company’s stock traded hands, compared to its average volume of 28,387. Cross Timbers Royalty Trust has a fifty-two week low of $7.34 and a fifty-two week high of $14.63. The firm has a market capitalization of $77.22 million, a price-to-earnings ratio of 24.22 and a beta of 0.01. The firm’s 50 day moving average is $12.45 and its 200-day moving average is $10.55.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.2779 per share. This represents a $3.33 annualized dividend and a dividend yield of 25.9%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0643. The ex-dividend date of this dividend is Friday, October 30th. Cross Timbers Royalty Trust’s payout ratio is currently 628.30%.

Insider Transactions at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver acquired 16,360 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average cost of $11.46 per share, with a total value of $187,485.60. Following the completion of the purchase, the insider directly owned 1,005,873 shares in the company, valued at approximately $11,527,304.58. This trade represents a 1.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 55,688 shares of company stock valued at $631,342 over the last quarter. 9.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns interests in oil and natural gas properties. The trust does not operate wells or provide energy services directly; instead, it receives income from its underlying royalty and net profits interests in producing properties. The trust’s interests were established from properties formerly associated with Cross Timbers Oil Company and are located primarily in Texas, Oklahoma and New Mexico. Revenue distributions to unitholders depend on production volumes, commodity prices, operating costs and other factors affecting the properties.