Cross Timbers Royalty Trust (NYSE:CRT) Sees Large Decrease in Short Interest

Cross Timbers Royalty Trust (NYSE:CRT) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 9,976 shares, a decrease of 37.6% from the August 15th total of 15,994 shares. Based on an average daily trading volume, of 20,472 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, major shareholder Eric L. Oliver purchased 34,596 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $8.68 per share, for a total transaction of $300,293.28. Following the acquisition, the insider directly owned 917,186 shares of the company’s stock, valued at $7,961,174.48. This represents a 3.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 144,251 shares of company stock worth $1,411,689 over the last three months. 9.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 as of its most recent filing with the SEC. 9.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a report on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Cross Timbers Royalty Trust Stock Performance

CRT stock traded down $0.39 during trading on Friday, hitting $12.59. 11,715 shares of the company’s stock traded hands, compared to its average volume of 29,912. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $13.15. The stock has a market capitalization of $75.53 million, a price-to-earnings ratio of 23.75 and a beta of -0.04. The business has a fifty day simple moving average of $10.46 and a 200 day simple moving average of $10.25.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results 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 disclosed a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.0679 per share. The ex-dividend date of this dividend was Monday, August 31st. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) annualized dividend and a yield of 6.5%. Cross Timbers Royalty Trust’s payout ratio is presently 152.83%.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust (NYSE: CRT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate producing wells itself; instead, it receives distributions based on production and proceeds from the underlying properties after applicable expenses and deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma, with historical interests also connected to properties in New Mexico.