Eric Oliver Acquires 2,289 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 2,289 shares of Cross Timbers Royalty Trust stock in a transaction on Wednesday, September 2nd. The stock was bought at an average price of $10.63 per share, for a total transaction of $24,332.07. Following the completion of the acquisition, the insider owned 969,974 shares in the company, valued at $10,310,823.62. The trade was a 0.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 2.8%

CRT opened at $10.95 on Friday. The firm has a 50-day simple moving average of $9.96 and a two-hundred day simple moving average of $10.05. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10. The company has a market capitalization of $65.70 million, a PE ratio of 20.66 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings data 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%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.0679 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) dividend on an annualized basis and a yield of 7.4%. Cross Timbers Royalty Trust’s dividend payout ratio is currently 152.83%.

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 research note on Thursday, June 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several institutional investors have recently bought and sold shares of CRT. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter worth $157,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cross Timbers Royalty Trust by 23.3% in 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 acquiring an additional 2,651 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at about $212,000. Finally, Bank of America Corp DE grew its position in Cross Timbers Royalty Trust by 81.2% in 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 acquiring an additional 1,612 shares in the last quarter. 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.