Cross Timbers Royalty Trust (CRT) to Issue Monthly Dividend of $0.07 on September 15th

Cross Timbers Royalty Trust (NYSE:CRT) declared a monthly dividend on Friday, August 21st. Investors of record on Monday, August 31st will be given a dividend of 0.0679 per share by the oil and gas company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Monday, August 31st. This is a 10.6% increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06.

Cross Timbers Royalty Trust has decreased its dividend by an average of 0.0%annually over the last three years.

Cross Timbers Royalty Trust Stock Performance

Cross Timbers Royalty Trust stock opened at $10.90 on Friday. The stock’s 50 day simple moving average is $9.65 and its two-hundred day simple moving average is $9.90. The stock has a market cap of $65.40 million, a price-to-earnings ratio of 20.57 and a beta of -0.05. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.

Insider Activity

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver purchased 34,596 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $8.68 per share, with a total value of $300,293.28. Following the transaction, the insider directly owned 917,186 shares in the company, valued at approximately $7,961,174.48. The trade was a 3.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 125,502 shares of company stock valued at $1,197,007. 9.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in CRT. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at approximately $157,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth approximately $112,000. O Shaughnessy Asset Management LLC increased its position in 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 valued at $112,000 after buying an additional 2,651 shares in the last quarter. Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at approximately $212,000. Finally, Bank of America Corp DE raised 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 valued at $36,000 after buying an additional 1,612 shares during the last quarter. 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.