Cross Timbers Royalty Trust (NYSE:CRT) Posts Quarterly Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) posted its quarterly earnings data on Thursday. The oil and gas company reported $0.08 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.

Cross Timbers Royalty Trust Stock Up 0.5%

NYSE CRT traded up $0.06 during trading on Thursday, hitting $10.85. 11,902 shares of the stock traded hands, compared to its average volume of 26,417. The company has a market capitalization of $65.07 million, a P/E ratio of 14.27 and a beta of -0.02. The firm has a 50-day simple moving average of $10.34 and a 200-day simple moving average of $9.06. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.0697 per share. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a yield of 7.7%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 110.53%.

Insiders Place Their Bets

In other news, major shareholder Eric L. Oliver purchased 28,861 shares of the business’s stock in a transaction on Friday, April 17th. The stock was acquired at an average price of $10.44 per share, for a total transaction of $301,308.84. Following the acquisition, the insider directly owned 787,073 shares of the company’s stock, valued at $8,217,042.12. This represents a 3.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders purchased 131,089 shares of company stock worth $1,348,760. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several institutional investors have recently added to or reduced their stakes in CRT. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter worth approximately $212,000. O Shaughnessy Asset Management LLC boosted 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 purchasing an additional 2,651 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of 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 worth $36,000 after purchasing an additional 1,612 shares during the period. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.