Eric Oliver Buys 9,609 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 9,609 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $10.44 per share, with a total value of $100,317.96. Following the completion of the acquisition, the insider directly owned 963,738 shares in the company, valued at $10,061,424.72. The trade was a 1.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Down 0.4%

Shares of Cross Timbers Royalty Trust stock opened at $10.53 on Wednesday. The stock has a market capitalization of $63.15 million, a price-to-earnings ratio of 19.86 and a beta of -0.05. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The firm’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $9.87.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (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 firm also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.0614 dividend. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Friday, July 31st. Cross Timbers Royalty Trust’s payout ratio is presently 137.74%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Cross Timbers Royalty Trust currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Cross Timbers Royalty Trust by 23.3% in 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. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the 1st quarter worth about $112,000. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. Finally, Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

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.