Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 6,142 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 6,142 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average cost of $10.94 per share, with a total value of $67,193.48. Following the purchase, the insider owned 982,379 shares in the company, valued at approximately $10,747,226.26. This trade represents a 0.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Stock Performance

CRT stock opened at $11.28 on Friday. The firm has a market cap of $67.70 million, a PE ratio of 21.29 and a beta of -0.04. The firm’s 50 day moving average price is $10.14 and its 200-day moving average price is $10.13. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.50.

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 firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.0679 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 7.2%. 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 report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased 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 valued at $36,000 after purchasing an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake 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 purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust during the first quarter worth $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at $157,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust in the third quarter valued at $212,000. Hedge funds and other 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.