Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $90,630.62 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 8,542 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $10.61 per share, for a total transaction of $90,630.62. Following the completion of the purchase, the insider owned 799,647 shares of the company’s stock, valued at $8,484,254.67. This trade represents a 1.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 1.8%

CRT traded up $0.20 during trading on Wednesday, hitting $10.79. The company’s stock had a trading volume of 23,836 shares, compared to its average volume of 37,096. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10. The stock’s fifty day moving average price is $10.26 and its 200-day moving average price is $9.01. The firm has a market capitalization of $64.71 million, a P/E ratio of 14.19 and a beta of -0.02.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.The firm had revenue of $1.64 million for the quarter.

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.0697 per share. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Thursday, April 30th. Cross Timbers Royalty Trust’s dividend payout ratio is presently 109.21%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust during the third quarter worth $212,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust during the first quarter worth $157,000. O Shaughnessy Asset Management LLC grew its holdings in Cross Timbers Royalty Trust by 23.3% during the fourth 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. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the first quarter worth $112,000. Finally, Bank of America Corp DE grew its holdings in Cross Timbers Royalty Trust by 81.3% during 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 buying an additional 1,612 shares in the last quarter. Institutional investors own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock 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.