Cross Timbers Royalty Trust (NYSE:CRT) Shares Cross Below 50 Day Moving Average – What’s Next?

Cross Timbers Royalty Trust (NYSE:CRT)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.09 and traded as low as $8.99. Cross Timbers Royalty Trust shares last traded at $9.1240, with a volume of 4,533 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Cross Timbers Royalty Trust Stock Performance

The stock has a market capitalization of $54.74 million, a P/E ratio of 16.90 and a beta of -0.03. The business has a fifty day simple moving average of $10.09 and a 200-day simple moving average of $9.53.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings data 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 during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.0442 dividend. The ex-dividend date is Tuesday, June 30th. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a yield of 5.8%. Cross Timbers Royalty Trust’s dividend payout ratio is 98.15%.

Insiders Place Their Bets

In related news, major shareholder Eric L. Oliver acquired 3,727 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $8.88 per share, for a total transaction of $33,095.76. Following the completion of the acquisition, the insider owned 924,960 shares of the company’s stock, valued at approximately $8,213,644.80. This trade represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 172,486 shares of company stock valued at $1,708,659 over the last ninety days. Insiders own 9.40% of the company’s stock.

Institutional Trading of Cross Timbers Royalty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust during the 1st quarter worth approximately $157,000. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust in the first quarter valued at approximately $112,000. O Shaughnessy Asset Management LLC grew its stake in Cross Timbers Royalty Trust by 23.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 2,651 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the third quarter valued at approximately $212,000. Finally, Bank of America Corp DE increased its holdings in shares of Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,612 shares in the last quarter. 9.74% of the stock is owned by institutional investors.

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.