Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 5,473 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 5,473 shares of the stock in a transaction on Friday, September 4th. The shares were purchased at an average price of $10.90 per share, with a total value of $59,655.70. Following the completion of the transaction, the insider owned 976,237 shares of the company’s stock, valued at approximately $10,640,983.30. This represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

Shares of CRT stock opened at $11.23 on Wednesday. The stock’s fifty day moving average price is $10.05 and its two-hundred day moving average price is $10.10. The company has a market cap of $67.39 million, a PE ratio of 21.19 and a beta of -0.04. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.43.

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

Cross Timbers Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.0679 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) annualized dividend and a yield of 7.3%. Cross Timbers Royalty Trust’s payout ratio is presently 152.83%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

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

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 report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently 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.