Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 2,289 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 2,289 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average price of $10.63 per share, with a total value of $24,332.07. Following the completion of the purchase, the insider directly owned 969,974 shares of the company’s stock, valued at approximately $10,310,823.62. This trade represents a 0.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 1.2%

NYSE:CRT opened at $10.71 on Friday. The company has a market cap of $64.26 million, a PE ratio of 20.21 and a beta of -0.04. The company has a 50 day simple moving average of $9.92 and a two-hundred day simple moving average of $10.04. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last released 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 return on equity of 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared 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 is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. Cross Timbers Royalty Trust’s dividend payout ratio is presently 152.83%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Cross Timbers Royalty Trust by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Cross Timbers Royalty Trust by 23.3% during the fourth 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 bought a new stake in Cross Timbers Royalty Trust during the first quarter valued at about $112,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust during the first quarter valued at about $157,000. Finally, Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust in the third quarter worth about $212,000. Institutional investors own 9.74% of the company’s stock.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock 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.