Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 16,360 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 16,360 shares of the business’s stock in a transaction on Friday, September 11th. The shares were acquired at an average cost of $11.46 per share, with a total value of $187,485.60. Following the acquisition, the insider directly owned 1,005,873 shares in the company, valued at approximately $11,527,304.58. The trade was a 1.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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 Price Performance

CRT stock opened at $13.04 on Wednesday. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $13.15. The stock has a market cap of $78.21 million, a price-to-earnings ratio of 24.59 and a beta of -0.04. The company has a fifty day moving average price of $10.32 and a two-hundred day moving average price of $10.20.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings data 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 business also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.0679 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a c) annualized dividend and a yield of 6.3%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. Cross Timbers Royalty Trust’s payout ratio is currently 152.83%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

An institutional investor recently bought a new stake in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,558 shares of the oil and gas company’s stock, valued at approximately $112,000. Ritholtz Wealth Management owned 0.18% of Cross Timbers Royalty Trust at the end of the most recent reporting period. Institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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, Cross Timbers Royalty Trust currently has a consensus rating of “Hold”.

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.