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

Cross Timbers Royalty Trust (NYSE:CRT) issued its earnings results on Thursday. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Stock Performance

Shares of CRT stock traded down $0.05 during mid-day trading on Thursday, reaching $10.05. 10,713 shares of the company’s stock traded hands, compared to its average volume of 30,016. The firm has a market capitalization of $60.30 million, a PE ratio of 18.61 and a beta of -0.05. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The firm has a 50 day moving average price of $9.69 and a two-hundred day moving average price of $9.82.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.0614 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. Cross Timbers Royalty Trust’s payout ratio is presently 135.19%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Insider Buying and Selling

In related news, major shareholder Eric L. Oliver bought 34,596 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average cost of $8.68 per share, for a total transaction of $300,293.28. Following the completion of the transaction, the insider owned 917,186 shares of the company’s stock, valued at approximately $7,961,174.48. This trade represents a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders acquired 105,626 shares of company stock valued at $1,009,714. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC grew its stake 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 valued at $112,000 after acquiring an additional 2,651 shares during the period. Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust during the 3rd quarter worth approximately $212,000. Finally, Bank of America Corp DE raised its stake in Cross Timbers Royalty Trust by 81.2% 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 acquiring an additional 1,612 shares during the period. Institutional investors 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.