Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 3,747 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,747 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Wednesday, April 15th. The shares were acquired at an average cost of $10.48 per share, for a total transaction of $39,268.56. Following the completion of the transaction, the insider directly owned 758,212 shares in the company, valued at $7,946,061.76. This represents a 0.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

Cross Timbers Royalty Trust stock opened at $10.55 on Friday. The stock has a market cap of $63.29 million, a PE ratio of 13.88 and a beta of 0.03. The stock has a 50-day moving average of $9.64 and a two-hundred day moving average of $8.63. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share for the quarter. The business had revenue of $1.64 million for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.0009 per share. The ex-dividend date was Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 0.1%. Cross Timbers Royalty Trust’s dividend payout ratio is presently 78.95%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRT. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust during the 3rd quarter worth approximately $212,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Cross Timbers Royalty Trust by 23.3% in 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 acquiring an additional 2,651 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Cross Timbers Royalty Trust by 81.3% 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 acquiring an additional 1,612 shares during the last quarter. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

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.