Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $205,464.74 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 18,902 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $10.87 per share, for a total transaction of $205,464.74. Following the completion of the purchase, the insider directly owned 818,549 shares in the company, valued at $8,897,627.63. This represents a 2.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 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 traded down $0.13 during mid-day trading on Friday, reaching $10.63. The company’s stock had a trading volume of 6,985 shares, compared to its average volume of 35,667. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The company has a market capitalization of $63.78 million, a P/E ratio of 19.69 and a beta of -0.02. The firm’s fifty day moving average price is $10.46 and its two-hundred day moving average price is $9.17.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.The firm had revenue of $0.77 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.0296 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, May 29th. Cross Timbers Royalty Trust’s payout ratio is presently 64.81%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Cross Timbers Royalty Trust by 81.3% during 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 purchasing an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of 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 worth $112,000 after purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth $112,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust during the first quarter valued at $157,000. Finally, Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust during the third quarter valued at $212,000. 9.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Cross Timbers Royalty Trust currently has an average rating of “Hold”.

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.