Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $254,439.68 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 23,386 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $10.88 per share, for a total transaction of $254,439.68. Following the completion of the acquisition, the insider owned 841,935 shares of the company’s stock, valued at approximately $9,160,252.80. The trade was a 2.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Down 1.7%

NYSE CRT opened at $10.53 on Friday. The company’s 50-day moving average price is $10.57 and its 200-day moving average price is $9.28. The stock has a market cap of $63.15 million, a PE ratio of 19.49 and a beta of -0.02. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The company had revenue of $0.77 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.0296 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 155.56%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of Cross Timbers Royalty Trust

A number of institutional investors have recently modified their holdings of CRT. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at approximately $212,000. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at approximately $157,000. O Shaughnessy Asset Management LLC raised its position 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 purchasing an additional 2,651 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at approximately $112,000. Finally, Bank of America Corp DE raised its position in shares of Cross Timbers Royalty Trust by 81.3% 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 purchasing an additional 1,612 shares during the last quarter. 9.74% of the stock is currently owned by institutional investors.

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.