Cross Timbers Royalty Trust (NYSE:CRT) Issues Quarterly Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) released its quarterly earnings results on Thursday. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 146.32%.

Cross Timbers Royalty Trust Stock Performance

Shares of NYSE:CRT traded up $0.28 during trading on Friday, reaching $10.35. The stock had a trading volume of 30,773 shares, compared to its average volume of 17,980. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10. The firm’s fifty day moving average is $9.67 and its 200 day moving average is $9.84. The stock has a market cap of $62.07 million, a price-to-earnings ratio of 19.52 and a beta of -0.05.

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.0614 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. Cross Timbers Royalty Trust’s payout ratio is currently 137.04%.

Wall Street Analyst Weigh In

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

Insider Transactions at Cross Timbers Royalty Trust

In other news, major shareholder Eric L. Oliver purchased 34,596 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $8.68 per share, with a total value of $300,293.28. Following the completion of the transaction, the insider owned 917,186 shares of the company’s stock, valued at $7,961,174.48. The trade was a 3.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 131,708 shares of company stock valued at $1,270,913 in the last quarter. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in CRT. O Shaughnessy Asset Management LLC boosted its holdings 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 buying an additional 2,651 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. Finally, Bank of America Corp DE lifted its position 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 period. 9.74% of the stock is currently owned by institutional investors.

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.