Cross Timbers Royalty Trust (NYSE:CRT) Issues Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) posted its quarterly earnings data on Friday. The oil and gas company reported $0.23 earnings per share for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 191.25% and a net margin of 79.29%.The company had revenue of $1.64 million during the quarter.

Cross Timbers Royalty Trust Price Performance

NYSE CRT opened at $10.50 on Friday. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $13.31. The business has a 50 day moving average price of $9.07 and a 200 day moving average price of $8.35. The company has a market capitalization of $62.97 million, a P/E ratio of 13.99 and a beta of 0.10.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be paid a $0.0009 dividend. This represents a c) annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 80.00%.

Insider Buying and Selling

In related news, major shareholder Eric L. Oliver purchased 26,134 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were bought at an average price of $9.69 per share, with a total value of $253,238.46. Following the completion of the purchase, the insider directly owned 626,225 shares in the company, valued at approximately $6,068,120.25. This trade represents a 4.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its stake in Cross Timbers Royalty Trust by 23.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after buying an additional 2,651 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Finally, Bank of America Corp DE lifted its holdings in shares of Cross Timbers Royalty Trust by 81.3% during 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. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

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

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.