Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $90,630.62 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 8,542 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $10.61 per share, for a total transaction of $90,630.62. Following the acquisition, the insider directly owned 799,647 shares of the company’s stock, valued at $8,484,254.67. This represents a 1.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

CRT opened at $10.77 on Friday. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10. The firm has a market capitalization of $64.62 million, a PE ratio of 19.94 and a beta of -0.02. The business’s 50-day simple moving average is $10.37 and its 200 day simple moving average is $9.07.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 144.14% and a net margin of 71.40%.The business had revenue of $0.77 million for the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.0697 per share. The ex-dividend date was Thursday, April 30th. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 7.8%. Cross Timbers Royalty Trust’s dividend payout ratio is currently 110.53%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position 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 worth $36,000 after buying an additional 1,612 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $112,000. O Shaughnessy Asset Management LLC grew its position in shares of Cross Timbers Royalty Trust by 23.3% in 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 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 first quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus 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.