Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases 3,727 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 3,727 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $8.88 per share, for a total transaction of $33,095.76. Following the acquisition, the insider owned 924,960 shares in the company, valued at approximately $8,213,644.80. This trade represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Up 0.6%

NYSE CRT traded up $0.05 during mid-day trading on Friday, hitting $8.94. The stock had a trading volume of 12,690 shares, compared to its average volume of 34,206. The company has a 50 day simple moving average of $10.41 and a 200 day simple moving average of $9.45. The company has a market cap of $53.64 million, a price-to-earnings ratio of 16.56 and a beta of -0.04. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10.

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 company had revenue of $0.77 million for 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 company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.0442 per share. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. Cross Timbers Royalty Trust’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of large investors have recently bought and sold shares of CRT. Bank of America Corp DE increased its position in Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Cross Timbers Royalty Trust by 23.3% in the fourth 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 in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust during the first quarter valued at $157,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust during the third quarter valued at $212,000. Institutional investors and hedge funds 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.