Cross Timbers Royalty Trust (NYSE:CRT) Releases Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) released its earnings results on Friday. The oil and gas company reported $0.19 earnings per share for the quarter, Zacks reports. The company had revenue of $1.34 million during 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 Price Performance

CRT traded up $0.37 during trading on Friday, hitting $12.87. 16,159 shares of the stock traded hands, compared to its average volume of 21,001. The firm has a market capitalization of $77.22 million, a P/E ratio of 24.28 and a beta of 0.01. The firm has a 50-day moving average of $12.50 and a 200 day moving average of $10.57. Cross Timbers Royalty Trust has a 12-month low of $7.34 and a 12-month high of $14.63.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be issued a dividend of $0.2779 per share. The ex-dividend date is Friday, October 30th. This represents a $3.33 dividend on an annualized basis and a yield of 25.9%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0643. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 628.30%.

Insider Transactions at Cross Timbers Royalty Trust

In other news, major shareholder Eric L. Oliver acquired 4,817 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were purchased at an average price of $12.00 per share, for a total transaction of $57,804.00. Following the completion of the transaction, the insider owned 1,018,049 shares of the company’s stock, valued at $12,216,588. The trade was a 0.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have acquired 55,688 shares of company stock valued at $631,342. 9.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust is a passive oil and natural gas royalty trust established in 1991. It holds interests in producing properties rather than exploring for or producing hydrocarbons itself. The trust’s interests include net profits interests in properties in Texas and Oklahoma, as well as royalty interests in properties in Texas, Oklahoma and New Mexico. Its income is derived from oil and natural gas production from those properties. As a trust, Cross Timbers does not operate the underlying properties.