Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $48,096.65 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 4,585 shares of the stock in a transaction dated Tuesday, April 7th. The shares were bought at an average price of $10.49 per share, for a total transaction of $48,096.65. Following the completion of the acquisition, the insider owned 715,910 shares in the company, valued at $7,509,895.90. This represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Down 1.6%

Shares of NYSE:CRT opened at $10.42 on Friday. The firm has a market cap of $62.49 million, a price-to-earnings ratio of 13.70 and a beta of 0.03. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.46. The business has a fifty day simple moving average of $9.48 and a 200 day simple moving average of $8.55.

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

Cross Timbers Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.0009 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.1%. Cross Timbers Royalty Trust’s payout ratio is presently 78.95%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust during the third quarter valued at about $212,000. O Shaughnessy Asset Management LLC boosted its holdings in Cross Timbers Royalty Trust by 23.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 2,651 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Cross Timbers Royalty Trust by 81.3% during 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 acquiring an additional 1,612 shares during the period. 9.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

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.