Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $41,482.97 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 3,947 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average cost of $10.51 per share, with a total value of $41,482.97. Following the completion of the transaction, the insider directly owned 967,685 shares in the company, valued at $10,170,369.35. The trade was a 0.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 2.8%

NYSE:CRT opened at $10.95 on Friday. The company has a market capitalization of $65.70 million, a P/E ratio of 20.66 and a beta of -0.04. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The firm has a fifty day simple moving average of $9.96 and a 200-day simple moving average of $10.05.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.0679 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio is presently 152.83%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds have recently added to or reduced their stakes in the business. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter worth about $157,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth about $112,000. O Shaughnessy Asset Management LLC grew 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 acquiring an additional 2,651 shares during the period. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust during the third quarter worth about $212,000. Finally, Bank of America Corp DE raised its position in Cross Timbers Royalty Trust by 81.2% 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 in the last quarter. 9.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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