Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 4,817 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 4,817 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was acquired at an average price of $12.00 per share, with a total value of $57,804.00. Following the purchase, the insider directly owned 1,018,049 shares of the company’s stock, valued at approximately $12,216,588. The trade was a 0.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 $12.48 on Thursday. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $13.15. The stock has a 50-day moving average of $11.31 and a 200 day moving average of $10.58. The company has a market capitalization of $74.89 million, a price-to-earnings ratio of 23.23 and a beta of 0.01.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly 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 Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.0643 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.2%. This is a decrease from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. Cross Timbers Royalty Trust’s dividend payout ratio is presently 145.28%.

Hedge Funds Weigh In On 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 Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.