Cross Timbers Royalty Trust (NYSE:CRT) Stock: Insider Eric Oliver Buys 1,377 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 1,377 shares of Cross Timbers Royalty Trust stock in a transaction dated Tuesday, October 13th. The shares were bought at an average cost of $12.23 per share, for a total transaction of $16,840.71. Following the transaction, the insider directly owned 1,019,426 shares of the company’s stock, valued at approximately $12,467,579.98. The trade was a 0.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

NYSE:CRT traded up $0.17 during mid-day trading on Wednesday, reaching $12.48. The stock had a trading volume of 13,660 shares, compared to its average volume of 29,203. The company has a market capitalization of $74.89 million, a price-to-earnings ratio of 23.55 and a beta of 0.01. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $13.15. The stock’s 50 day simple moving average is $11.27 and its two-hundred day simple moving average is $10.56.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data 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 Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.0643 dividend. This is a negative change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.2%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 145.28%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust (NYSE:CRT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust as of its most recent SEC filing. Institutional investors and hedge funds own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. One research analyst has rated the stock with a Hold rating. According to MarketBeat, Cross Timbers Royalty Trust has an average rating of “Hold”.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.