Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases 23,386 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 23,386 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $10.88 per share, for a total transaction of $254,439.68. Following the acquisition, the insider owned 841,935 shares of the company’s stock, valued at approximately $9,160,252.80. The trade was a 2.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Down 0.3%

Shares of NYSE CRT traded down $0.03 during midday trading on Thursday, reaching $10.75. 6,963 shares of the company were exchanged, compared to its average volume of 35,300. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10. The stock has a fifty day simple moving average of $10.54 and a 200 day simple moving average of $9.25. The stock has a market cap of $64.50 million, a P/E ratio of 19.91 and a beta of -0.02.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.The firm had revenue of $0.77 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a $0.0296 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, May 29th. Cross Timbers Royalty Trust’s payout ratio is currently 64.81%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRT. Bank of America Corp DE raised its position 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 worth $36,000 after purchasing an additional 1,612 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter worth approximately $212,000. O Shaughnessy Asset Management LLC raised its position in shares of Cross Timbers Royalty Trust by 23.3% during 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 last quarter. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust during the 1st quarter worth approximately $112,000. Finally, Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust during the 1st quarter worth approximately $157,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently 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.