Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 9,609 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 9,609 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $10.44 per share, for a total transaction of $100,317.96. Following the purchase, the insider owned 963,738 shares of the company’s stock, valued at approximately $10,061,424.72. This trade represents a 1.01% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT stock opened at $10.53 on Tuesday. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The business has a 50-day moving average price of $9.67 and a 200 day moving average price of $9.86. The company has a market capitalization of $63.18 million, a P/E ratio of 19.87 and a beta of -0.05.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.0614 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) annualized dividend and a yield of 7.0%. Cross Timbers Royalty Trust’s dividend payout ratio is 139.62%.

Institutional Trading of Cross Timbers Royalty Trust

A number of institutional investors have recently modified their holdings of CRT. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust during the 1st quarter worth approximately $157,000. Ritholtz Wealth Management purchased a new stake in Cross Timbers Royalty Trust during the first quarter valued at approximately $112,000. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC boosted its stake in Cross Timbers Royalty Trust by 23.3% in the fourth 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 in the last quarter. Finally, Bank of America Corp DE grew its holdings in Cross Timbers Royalty Trust by 81.2% in the second 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. 9.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.