Cross Timbers Royalty Trust (NYSE:CRT) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Shares of Cross Timbers Royalty Trust (NYSE:CRT) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.64 and traded as high as $10.85. Cross Timbers Royalty Trust shares last traded at $10.8150, with a volume of 7,244 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Cross Timbers Royalty Trust Stock Down 0.9%

The firm has a 50-day simple moving average of $10.66 and a 200 day simple moving average of $9.36. The company has a market cap of $64.27 million, a price-to-earnings ratio of 19.84 and a beta of -0.04.

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

Cross Timbers Royalty Trust Cuts Dividend

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

Insider Activity at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver purchased 23,386 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $10.88 per share, for a total transaction of $254,439.68. Following the completion of the purchase, the insider directly owned 841,935 shares of the company’s stock, valued at $9,160,252.80. This trade represents a 2.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 173,377 shares of company stock worth $1,808,665 in the last three months. 9.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several large investors have recently modified their holdings of CRT. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter worth $212,000. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust in the first quarter valued at $157,000. O Shaughnessy Asset Management LLC lifted its position 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 valued at $112,000 after acquiring an additional 2,651 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at $112,000. Finally, Bank of America Corp DE lifted its position in shares of Cross Timbers Royalty Trust by 81.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.