Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $59,655.70 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 5,473 shares of the stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $10.90 per share, with a total value of $59,655.70. Following the transaction, the insider owned 976,237 shares in the company, valued at $10,640,983.30. This trade represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 2.5%

Shares of CRT traded up $0.27 on Tuesday, reaching $11.23. 44,559 shares of the company’s stock were exchanged, compared to its average volume of 29,143. The business has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $10.08. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.43. The stock has a market capitalization of $67.39 million, a P/E ratio of 21.19 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data 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 net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.0679 dividend. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 152.83%.

Analyst Ratings Changes

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

Institutional Trading of Cross Timbers Royalty Trust

A number of hedge funds have recently modified their holdings of CRT. Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in 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 in the last quarter. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the first quarter valued at approximately $112,000. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust in the first quarter worth $157,000. Finally, Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the third quarter worth $212,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

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.