Eric Oliver Buys 4,047 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 4,047 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was acquired at an average cost of $8.66 per share, with a total value of $35,047.02. Following the transaction, the insider directly owned 921,233 shares in the company, valued at $7,977,877.78. This trade represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 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 Trading Up 0.6%

Cross Timbers Royalty Trust stock opened at $8.94 on Friday. The firm has a market capitalization of $53.64 million, a P/E ratio of 16.56 and a beta of -0.04. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10. The stock’s fifty day simple moving average is $10.38 and its 200-day simple moving average is $9.45.

Cross Timbers Royalty Trust (NYSE:CRT) last released 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 during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.0442 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, June 30th. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 66.67%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of CRT. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the third quarter valued at $212,000. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at about $157,000. O Shaughnessy Asset Management LLC raised its position in shares of Cross Timbers Royalty Trust by 23.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after acquiring an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter worth about $112,000. Finally, Bank of America Corp DE lifted its stake in Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,612 shares during the last quarter. Institutional investors and hedge funds 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.