Cross Timbers Royalty Trust (NYSE:CRT) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Cross Timbers Royalty Trust (NYSE:CRT) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.64 and traded as high as $10.85. Cross Timbers Royalty Trust shares last traded at $10.8150, with a volume of 7,244 shares traded.

Wall Street Analysts Forecast Growth

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

Cross Timbers Royalty Trust Stock Performance

The company has a market cap of $64.89 million, a price-to-earnings ratio of 20.03 and a beta of -0.04. The stock’s fifty day simple moving average is $10.64 and its two-hundred day simple moving average is $9.35.

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

Cross Timbers Royalty Trust Cuts Dividend

The business also recently declared 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 dividend yield of 3.3%. The ex-dividend date is Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 66.67%.

Insider Buying and Selling at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver purchased 28,861 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were bought 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 in the company, valued at $8,217,042.12. This trade represents a 3.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have acquired 173,377 shares of company stock valued at $1,808,665. 9.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently made changes to their positions in the stock. 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 valued at $112,000 after purchasing an additional 2,651 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at $112,000. 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. Finally, Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at $157,000. 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.