Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires 20,968 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 20,968 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $181,373.20. Following the completion of the purchase, the insider directly owned 882,590 shares in the company, valued at $7,634,403.50. The trade was a 2.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 Trading Up 1.0%

Shares of NYSE CRT traded up $0.08 during midday trading on Wednesday, reaching $8.66. 21,390 shares of the stock were exchanged, compared to its average volume of 27,217. The stock has a 50 day moving average price of $10.44 and a 200-day moving average price of $9.45. The company has a market capitalization of $51.98 million, a P/E ratio of 16.04 and a beta of -0.04. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data 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 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 Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.0442 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 6.1%. Cross Timbers Royalty Trust’s payout ratio is presently 66.67%.

Analyst Ratings Changes

Separately, Weiss Ratings cut Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Cross Timbers Royalty Trust currently has a consensus rating of “Hold”.

Institutional Trading of Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of Cross Timbers Royalty Trust by 81.2% 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 acquiring an additional 1,612 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC grew its holdings in 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 purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust during the first quarter worth approximately $112,000. Finally, Welch Group LLC purchased a new position in Cross Timbers Royalty Trust during the first quarter worth approximately $157,000. Hedge funds and other 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.