Eric Oliver Acquires 18,902 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 18,902 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $10.87 per share, with a total value of $205,464.74. Following the completion of the purchase, the insider directly owned 818,549 shares of the company’s stock, valued at approximately $8,897,627.63. This trade represents a 2.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

Shares of NYSE:CRT opened at $10.63 on Friday. The stock has a market capitalization of $63.78 million, a price-to-earnings ratio of 19.69 and a beta of -0.02. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The company’s fifty day moving average is $10.48 and its two-hundred day moving average is $9.18.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The company had revenue of $0.77 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.0296 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a yield of 3.3%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 155.56%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several large investors have recently made changes to their positions in the business. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC boosted 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 in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust in the third quarter worth about $212,000. Finally, Bank of America Corp DE boosted its holdings in shares of Cross Timbers Royalty Trust by 81.3% in 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 buying an additional 1,612 shares during the period. Institutional investors own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

About Cross Timbers Royalty Trust

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.