Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $187,485.60 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 16,360 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average price of $11.46 per share, with a total value of $187,485.60. Following the purchase, the insider owned 1,005,873 shares in the company, valued at $11,527,304.58. This trade represents a 1.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

NYSE CRT opened at $12.76 on Friday. The firm has a market cap of $76.54 million, a PE ratio of 24.07 and a beta of -0.04. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $13.15. The firm’s fifty day moving average is $10.46 and its two-hundred day moving average is $10.25.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share 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 business also recently disclosed a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.0679 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a c) annualized dividend and a yield of 6.4%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 152.83%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Trading of Cross Timbers Royalty Trust

An institutional investor recently bought a new position in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,558 shares of the oil and gas company’s stock, valued at approximately $112,000. Ritholtz Wealth Management owned approximately 0.18% of Cross Timbers Royalty Trust at the end of the most recent quarter. Institutional investors own 9.74% of the company’s stock.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE: CRT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate producing wells itself; instead, it receives distributions based on production and proceeds from the underlying properties after applicable expenses and deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma, with historical interests also connected to properties in New Mexico.