Short Interest in Cross Timbers Royalty Trust (NYSE:CRT) Drops By 37.6%

Cross Timbers Royalty Trust (NYSE:CRT) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 9,976 shares, a decrease of 37.6% from the August 15th total of 15,994 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 20,472 shares, the days-to-cover ratio is presently 0.5 days.

Insiders Place Their Bets

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver purchased 34,596 shares of the stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $8.68 per share, for a total transaction of $300,293.28. Following the completion of the transaction, the insider owned 917,186 shares of the company’s stock, valued at $7,961,174.48. This trade represents a 3.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders bought 144,251 shares of company stock valued at $1,411,689. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

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

Wall Street Analysts Forecast Growth

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

Cross Timbers Royalty Trust Stock Down 4.0%

NYSE:CRT traded down $0.52 on Wednesday, hitting $12.55. The stock had a trading volume of 8,436 shares, compared to its average volume of 29,470. The stock has a market cap of $75.30 million, a price-to-earnings ratio of 23.68 and a beta of -0.04. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $13.15. The company has a fifty day moving average price of $10.32 and a two-hundred day moving average price of $10.20.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 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 Increases Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $0.0679 dividend. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) dividend on an annualized basis and a yield of 6.5%. Cross Timbers Royalty Trust’s dividend payout ratio is presently 152.83%.

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.