Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $57,804.00 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 4,817 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Monday, October 12th. The shares were acquired at an average cost of $12.00 per share, with a total value of $57,804.00. Following the acquisition, the insider owned 1,018,049 shares of the company’s stock, valued at $12,216,588. The trade was a 0.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

NYSE CRT traded up $0.17 on Wednesday, reaching $12.48. 13,660 shares of the company’s stock traded hands, compared to its average volume of 29,203. The firm has a market cap of $74.89 million, a price-to-earnings ratio of 23.55 and a beta of 0.01. The stock has a 50 day moving average price of $11.27 and a 200-day moving average price of $10.56. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $13.15.

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 net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Cuts Dividend

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

An institutional investor recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned 0.25% of Cross Timbers Royalty Trust at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.