Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $67,193.48 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 6,142 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average price of $10.94 per share, with a total value of $67,193.48. Following the transaction, the insider owned 982,379 shares of the company’s stock, valued at $10,747,226.26. The trade was a 0.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

CRT stock opened at $11.76 on Friday. The company has a market cap of $70.58 million, a price-to-earnings ratio of 22.20 and a beta of -0.04. The business’s 50-day moving average is $10.19 and its two-hundred day moving average is $10.14. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.90.

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 firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.0679 dividend. 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) dividend on an annualized basis and a dividend yield of 6.9%. Cross Timbers Royalty Trust’s payout ratio is 152.83%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRT. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust during the third quarter valued at approximately $212,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth $157,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth $112,000. O Shaughnessy Asset Management LLC raised 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 purchasing an additional 2,651 shares during the period. Finally, Bank of America Corp DE raised its position 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 purchasing an additional 1,612 shares during the period. Institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cross Timbers Royalty Trust presently has an average 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.