Cross Timbers Royalty Trust (NYSE:CRT) Stock Passes Above 50 Day Moving Average – Here’s Why

Cross Timbers Royalty Trust (NYSE:CRT)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.25 and traded as high as $8.65. Cross Timbers Royalty Trust shares last traded at $8.5150, with a volume of 15,625 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Cross Timbers Royalty Trust has a consensus rating of “Sell”.

Cross Timbers Royalty Trust Stock Performance

The business has a 50 day moving average of $8.25 and a two-hundred day moving average of $8.23. The firm has a market capitalization of $51.09 million, a price-to-earnings ratio of 11.35 and a beta of 0.12.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data on Thursday, November 13th. The oil and gas company reported $0.08 EPS for the quarter. Cross Timbers Royalty Trust had a return on equity of 191.25% and a net margin of 79.29%.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.0329 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) annualized dividend and a yield of 4.6%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 53.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at $212,000. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust during the second quarter worth about $169,000. Scotia Capital Inc. acquired a new stake in shares of Cross Timbers Royalty Trust in the 2nd quarter worth about $109,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Cross Timbers Royalty Trust by 23.3% in 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 acquiring an additional 2,651 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Cross Timbers Royalty Trust by 81.3% in the 2nd 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. Institutional investors and hedge funds own 9.74% of the company’s stock.

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.