Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $33,095.76 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,727 shares of Cross Timbers Royalty Trust stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $8.88 per share, with a total value of $33,095.76. Following the purchase, the insider directly owned 924,960 shares in the company, valued at approximately $8,213,644.80. This trade represents a 0.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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 Up 0.6%

Shares of NYSE:CRT traded up $0.05 during midday trading on Friday, hitting $8.94. The stock had a trading volume of 12,690 shares, compared to its average volume of 34,206. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10. The stock has a 50 day moving average price of $10.41 and a two-hundred day moving average price of $9.45. The company has a market capitalization of $53.64 million, a PE ratio of 16.56 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $0.77 million during the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.0442 per share. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, June 30th. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s payout ratio is presently 66.67%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in CRT. Bank of America Corp DE increased its holdings in shares of Cross Timbers Royalty Trust by 81.2% in 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 purchasing an additional 1,612 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust during the third quarter worth 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 worth $112,000 after buying an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust during the first quarter worth about $112,000. Finally, Welch Group LLC acquired a new position in Cross Timbers Royalty Trust during the first quarter worth about $157,000. 9.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock 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.