Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $41,852.16 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 4,032 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were purchased at an average cost of $10.38 per share, for a total transaction of $41,852.16. Following the completion of the transaction, the insider directly owned 791,105 shares in the company, valued at $8,211,669.90. The trade was a 0.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT stock traded up $0.04 during trading on Tuesday, hitting $10.60. 21,721 shares of the stock traded hands, compared to its average volume of 39,901. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10. The firm’s 50 day moving average is $9.72 and its two-hundred day moving average is $8.69. The stock has a market cap of $63.57 million, a price-to-earnings ratio of 13.94 and a beta of 0.03.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data on Friday, March 27th. The oil and gas company reported $0.23 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 77.77% and a return on equity of 198.98%. The company 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. Investors of record on Thursday, April 30th will be given a dividend of $0.0697 per share. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a yield of 7.9%. Cross Timbers Royalty Trust’s payout ratio is currently 78.95%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Cross Timbers Royalty Trust by 81.3% 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 acquiring an additional 1,612 shares during the period. Ritholtz Wealth Management bought a new position in Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC lifted its stake in 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 acquiring an additional 2,651 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. Institutional investors own 9.74% of the company’s stock.

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.