Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 12,851 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 12,851 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was purchased at an average cost of $10.50 per share, with a total value of $134,935.50. Following the transaction, the insider owned 710,744 shares in the company, valued at approximately $7,462,812. This trade represents a 1.84% increase in their ownership of the stock. 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 sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

Shares of CRT stock opened at $10.75 on Friday. The firm’s 50-day moving average is $9.24 and its 200-day moving average is $8.42. The stock has a market cap of $64.47 million, a price-to-earnings ratio of 14.14 and a beta of 0.03. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $12.15.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 EPS for the quarter. The business had revenue of $1.64 million during the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a $0.0009 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 78.95%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of “Sell”.

Institutional Trading of Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Cross Timbers Royalty Trust by 81.3% 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 acquiring an additional 1,612 shares during the period. Scotia Capital Inc. acquired a new position in shares of Cross Timbers Royalty Trust in the second quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC increased its stake 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 period. Finally, Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust during the third quarter worth approximately $212,000. 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.