Eric Oliver Acquires 7,134 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 7,134 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was acquired at an average price of $11.29 per share, with a total value of $80,542.86. Following the completion of the purchase, the insider directly owned 989,513 shares in the company, valued at $11,171,601.77. This trade represents a 0.73% 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

Shares of CRT opened at $11.76 on Friday. The firm has a market cap of $70.58 million, a P/E ratio of 22.20 and a beta of -0.04. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.90. The company has a 50 day simple moving average of $10.19 and a two-hundred day simple moving average of $10.14.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 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. Shareholders of record on Monday, August 31st will be paid a $0.0679 dividend. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date is Monday, August 31st. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. Cross Timbers Royalty Trust’s dividend payout ratio is presently 152.83%.

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several large investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at approximately $212,000. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at approximately $157,000. O Shaughnessy Asset Management LLC raised its holdings in 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 buying an additional 2,651 shares during the period. Ritholtz Wealth Management purchased a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at $112,000. Finally, Bank of America Corp DE lifted its position in Cross Timbers Royalty Trust by 81.2% in 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. 9.74% of the stock is owned by institutional investors.

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.