Cross Timbers Royalty Trust (NYSE:CRT) Stock Passes Below 50 Day Moving Average – Here’s Why

Cross Timbers Royalty Trust (NYSE:CRT)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.71 and traded as low as $7.14. Cross Timbers Royalty Trust shares last traded at $7.21, with a volume of 40,493 shares.

Cross Timbers Royalty Trust Price Performance

The firm has a market capitalization of $43.26 million, a P/E ratio of 7.84 and a beta of 0.17. The business’s 50-day moving average is $8.71 and its 200 day moving average is $9.78.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results on Wednesday, August 13th. The oil and gas company reported $0.15 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 84.24% and a return on equity of 231.09%. The business had revenue of $1.31 million for the quarter.

Cross Timbers Royalty Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.0318 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, September 30th. Cross Timbers Royalty Trust’s dividend payout ratio is presently 41.30%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Large investors have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new stake in Cross Timbers Royalty Trust during the fourth quarter worth about $132,000. PNC Financial Services Group Inc. grew its stake in Cross Timbers Royalty Trust by 2,500.0% during the first quarter. PNC Financial Services Group Inc. now owns 10,400 shares of the oil and gas company’s stock worth $137,000 after buying an additional 10,000 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in Cross Timbers Royalty Trust by 20.0% during the first quarter. Miracle Mile Advisors LLC now owns 18,000 shares of the oil and gas company’s stock worth $237,000 after buying an additional 3,000 shares in the last quarter. Bank of America Corp DE grew its stake 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 in the last quarter. Finally, Scotia Capital Inc. acquired a new stake in Cross Timbers Royalty Trust during the second quarter worth about $109,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.