Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $71,314.48 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 6,844 shares of the company’s stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $10.42 per share, with a total value of $71,314.48. Following the completion of the purchase, the insider directly owned 732,787 shares in the company, valued at $7,635,640.54. This trade represents a 0.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT stock opened at $10.55 on Friday. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The company has a market capitalization of $63.29 million, a price-to-earnings ratio of 13.88 and a beta of 0.03. The business has a 50 day simple moving average of $9.64 and a two-hundred day simple moving average of $8.63.

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

Cross Timbers Royalty Trust Cuts Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Cross Timbers Royalty Trust by 81.3% during the 2nd 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 last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Cross Timbers Royalty Trust by 23.3% during 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 acquiring an additional 2,651 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at approximately $212,000. 9.74% of the stock is currently owned by institutional investors.

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.