Cross Timbers Royalty Trust (NYSE:CRT) to Issue Dividend Increase – $0.05 Per Share

Cross Timbers Royalty Trust (NYSE:CRT) announced a monthly dividend on Tuesday, February 17th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.0501 per share by the oil and gas company on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, February 27th. This is a 52.1% increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03.

Cross Timbers Royalty Trust has increased its dividend payment by an average of 0.0%per year over the last three years.

Cross Timbers Royalty Trust Trading Down 0.9%

Shares of CRT opened at $8.57 on Wednesday. The firm has a market capitalization of $51.41 million, a price-to-earnings ratio of 11.43 and a beta of 0.12. The firm’s fifty day simple moving average is $8.26 and its 200-day simple moving average is $8.20. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.31.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several hedge funds have recently made changes to their positions in CRT. Bank of America Corp DE increased its position in shares of Cross Timbers Royalty Trust by 81.3% during the second 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. Scotia Capital Inc. purchased a new position in Cross Timbers Royalty Trust during the 2nd quarter worth approximately $109,000. O Shaughnessy Asset Management LLC grew its stake in 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 worth $112,000 after buying an additional 2,651 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust during the second quarter worth approximately $169,000. Finally, Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. 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 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.