Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 12,950 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 12,950 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $10.08 per share, with a total value of $130,536.00. Following the completion of the acquisition, the insider directly owned 951,042 shares in the company, valued at approximately $9,586,503.36. This trade represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

Shares of CRT stock opened at $10.18 on Friday. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The business’s fifty day moving average price is $9.68 and its 200 day moving average price is $9.83. The firm has a market capitalization of $61.05 million, a PE ratio of 18.84 and a beta of -0.05.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.0614 per share. The ex-dividend date is Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a yield of 7.2%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 137.04%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of 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 valued at $36,000 after acquiring an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Cross Timbers Royalty Trust by 23.3% in 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 purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter worth about $112,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the first quarter worth about $157,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

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.