Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases 3,947 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 3,947 shares of the stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $10.51 per share, with a total value of $41,482.97. Following the purchase, the insider directly owned 967,685 shares in the company, valued at $10,170,369.35. This represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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 Price Performance

Shares of Cross Timbers Royalty Trust stock traded up $0.13 during trading on Thursday, reaching $10.71. 6,611 shares of the company traded hands, compared to its average volume of 29,088. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The company has a 50 day moving average price of $9.89 and a 200-day moving average price of $10.03. The firm has a market capitalization of $64.26 million, a PE ratio of 20.21 and a beta of -0.04.

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

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.0679 per share. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. Cross Timbers Royalty Trust’s payout ratio is currently 152.83%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in Cross Timbers Royalty Trust by 81.2% in 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 in the last quarter. O Shaughnessy Asset Management LLC increased its holdings 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 worth $112,000 after purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the 1st quarter worth approximately $112,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth approximately $157,000. Finally, Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

Analyst Ratings Changes

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

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.