Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $59,655.70 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 5,473 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average cost of $10.90 per share, with a total value of $59,655.70. Following the transaction, the insider directly owned 976,237 shares of the company’s stock, valued at approximately $10,640,983.30. This represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Down 0.2%

Shares of CRT opened at $11.28 on Friday. The stock has a market cap of $67.70 million, a price-to-earnings ratio of 21.29 and a beta of -0.04. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.50. The company has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $10.13.

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

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.0679 dividend. This represents a c) dividend on an annualized basis and a yield of 7.2%. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date is Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 152.83%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Cross Timbers Royalty Trust presently has an average rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of CRT. Bank of America Corp DE raised its position in Cross Timbers Royalty Trust by 81.2% in 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 purchasing an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Cross Timbers Royalty Trust by 23.3% during the fourth 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 stake in shares of Cross Timbers Royalty Trust in the first quarter valued at $112,000. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust in the first quarter valued at about $157,000. Finally, Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at about $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

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.