Eric Oliver Purchases 9,609 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 9,609 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $10.44 per share, with a total value of $100,317.96. Following the completion of the acquisition, the insider directly owned 963,738 shares of the company’s stock, valued at $10,061,424.72. The trade was a 1.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 1.5%

CRT stock traded up $0.16 on Monday, hitting $10.53. The company had a trading volume of 18,763 shares, compared to its average volume of 30,022. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The stock’s 50-day simple moving average is $9.67 and its 200 day simple moving average is $9.85. The stock has a market cap of $63.18 million, a price-to-earnings ratio of 19.87 and a beta of -0.05.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.0614 dividend. 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 7.0%. The ex-dividend date of this dividend was Friday, July 31st. Cross Timbers Royalty Trust’s dividend payout ratio is currently 139.62%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust in the first quarter worth about $157,000. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC lifted its position in shares of 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 buying an additional 2,651 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Cross Timbers Royalty Trust by 81.2% 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. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.