Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $80,542.86 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 7,134 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were acquired at an average cost of $11.29 per share, for a total transaction of $80,542.86. Following the completion of the purchase, the insider directly owned 989,513 shares of the company’s stock, valued at approximately $11,171,601.77. This represents a 0.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Down 0.2%

Shares of Cross Timbers Royalty Trust stock traded down $0.03 during trading on Thursday, reaching $11.28. The company’s stock had a trading volume of 10,251 shares, compared to its average volume of 29,059. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.50. The company has a market cap of $67.70 million, a price-to-earnings ratio of 21.29 and a beta of -0.04. The firm’s 50-day moving average is $10.09 and its two-hundred day moving average is $10.11.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its 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 paid a dividend of $0.0679 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust’s payout ratio is 152.83%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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