Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 3,727 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 3,727 shares of Cross Timbers Royalty Trust stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $8.88 per share, with a total value of $33,095.76. Following the purchase, the insider directly owned 924,960 shares of the company’s stock, valued at approximately $8,213,644.80. This trade represents a 0.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 0.6%

Shares of Cross Timbers Royalty Trust stock opened at $8.94 on Friday. The firm has a market capitalization of $53.64 million, a P/E ratio of 16.56 and a beta of -0.04. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The business’s fifty day simple moving average is $10.38 and its 200 day simple moving average is $9.45.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The firm had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.0442 dividend. This represents a c) annualized dividend and a yield of 5.9%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, June 30th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRT. Bank of America Corp DE increased its stake in Cross Timbers Royalty Trust by 81.2% during 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 in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Cross Timbers Royalty Trust by 23.3% in the 4th 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 in the last quarter. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust during the first quarter valued at approximately $112,000. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.