Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 1,318 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 1,318 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Wednesday, October 7th. The shares were bought at an average cost of $11.49 per share, with a total value of $15,143.82. Following the completion of the transaction, the insider directly owned 1,007,191 shares of the company’s stock, valued at approximately $11,572,624.59. The trade was a 0.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 0.1%

CRT stock opened at $11.95 on Friday. The company has a market cap of $71.68 million, a price-to-earnings ratio of 22.54 and a beta of 0.01. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.15. The business has a 50 day moving average price of $11.19 and a two-hundred day moving average price of $10.52.

Cross Timbers Royalty Trust (NYSE:CRT) last announced 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 company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.0643 dividend. This is a decrease from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. This represents a $0.77 annualized dividend and a yield of 6.5%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 145.28%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a research report on Monday, September 14th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Cross Timbers Royalty Trust presently has a consensus rating of “Hold”.

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 bought a new stake in Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust at the end of the most recent quarter. 9.74% of the stock is currently owned by institutional investors and hedge funds.

About Cross Timbers Royalty Trust

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.