Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 3,087 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,087 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $10.12 per share, with a total value of $31,240.44. Following the transaction, the insider directly owned 954,129 shares in the company, valued at approximately $9,655,785.48. This trade represents a 0.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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

Cross Timbers Royalty Trust stock opened at $10.53 on Tuesday. The firm has a market cap of $63.18 million, a price-to-earnings ratio of 19.87 and a beta of -0.05. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10. The firm has a 50 day moving average price of $9.67 and a two-hundred day moving average price of $9.86.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings data 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 Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.0614 dividend. The ex-dividend date was Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) annualized dividend and a yield of 7.0%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 139.62%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of CRT. Bank of America Corp DE increased its stake in shares of 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 acquiring an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in 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 acquiring an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust in the first quarter worth $112,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust in the first quarter valued at $157,000. Finally, Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust in the third quarter valued at $212,000. 9.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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.