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

Cross Timbers Royalty Trust (NYSE:CRT) announced its earnings results on Friday. The oil and gas company reported $0.19 earnings per share for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%. The business had revenue of $1.34 million for the quarter.

Cross Timbers Royalty Trust Trading Up 3.0%

Shares of NYSE CRT traded up $0.37 during midday trading on Friday, hitting $12.87. The company’s stock had a trading volume of 16,159 shares, compared to its average volume of 21,001. Cross Timbers Royalty Trust has a 12-month low of $7.34 and a 12-month high of $14.63. The firm has a market cap of $77.22 million, a P/E ratio of 24.28 and a beta of 0.01. The business’s 50 day moving average is $12.50 and its two-hundred day moving average is $10.57.

Cross Timbers Royalty Trust Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Cross Timbers Royalty Trust

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver acquired 16,360 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average price of $11.46 per share, for a total transaction of $187,485.60. Following the acquisition, the insider directly owned 1,005,873 shares in the company, valued at $11,527,304.58. The trade was a 1.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 55,688 shares of company stock worth $631,342. 9.40% of the stock is owned by insiders.

About Cross Timbers Royalty Trust

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.