Cross Timbers Royalty Trust (NYSE:CRT) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Cross Timbers Royalty Trust (NYSE:CRT) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.69 and traded as high as $10.90. Cross Timbers Royalty Trust shares last traded at $10.8050, with a volume of 8,035 shares traded.

Analyst Ratings Changes

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

Cross Timbers Royalty Trust Stock Performance

The business’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $9.43. The company has a market capitalization of $64.83 million, a price-to-earnings ratio of 20.01 and a beta of -0.04.

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

Cross Timbers Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a dividend of $0.0296 per share. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 66.67%.

Insider Activity

In other news, major shareholder Eric L. Oliver acquired 28,861 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were bought at an average price of $10.44 per share, with a total value of $301,308.84. Following the purchase, the insider owned 787,073 shares of the company’s stock, valued at approximately $8,217,042.12. This represents a 3.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders acquired 173,377 shares of company stock worth $1,808,665. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter worth about $212,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust in the first quarter worth about $157,000. O Shaughnessy Asset Management LLC lifted its holdings in 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. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust in the 1st quarter valued at about $112,000. Finally, Bank of America Corp DE boosted 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. Institutional investors own 9.74% of the company’s stock.

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.