Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases 34,596 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 34,596 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average cost of $8.68 per share, for a total transaction of $300,293.28. Following the acquisition, the insider owned 917,186 shares of the company’s stock, valued at approximately $7,961,174.48. This trade represents a 3.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 Up 1.0%

Shares of CRT stock traded up $0.08 on Wednesday, reaching $8.66. The company’s stock had a trading volume of 21,390 shares, compared to its average volume of 27,217. The company has a market capitalization of $51.98 million, a P/E ratio of 16.04 and a beta of -0.04. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The stock’s 50 day simple moving average is $10.44 and its 200-day simple moving average is $9.45.

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

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.0442 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 6.1%. Cross Timbers Royalty Trust’s payout ratio is presently 66.67%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of 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, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Cross Timbers Royalty Trust by 81.2% during 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. O Shaughnessy Asset Management LLC raised its holdings in shares of 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 buying an additional 2,651 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the 1st quarter worth approximately $112,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust in the 1st quarter worth approximately $157,000. Finally, Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust in the third quarter worth approximately $212,000. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

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.