Cross Timbers Royalty Trust (NYSE:CRT) Shares Shorted: Short Interest Up 116.6% in September

Cross Timbers Royalty Trust (NYSE:CRT) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 25,987 shares, a growth of 116.6% from the September 15th total of 11,996 shares. Based on an average daily volume of 38,369 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Insiders Place Their Bets

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver bought 16,360 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average price of $11.46 per share, with a total value of $187,485.60. Following the completion of the transaction, the insider owned 1,005,873 shares in the company, valued at approximately $11,527,304.58. This trade represents a 1.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 88,272 shares of company stock valued at $949,455 over the last ninety days. 9.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

An institutional investor recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust at the end of the most recent reporting period. Institutional investors and hedge funds own 9.74% of the company’s stock.

Cross Timbers Royalty Trust Stock Up 0.3%

NYSE:CRT opened at $12.10 on Tuesday. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $13.15. The firm has a market capitalization of $72.57 million, a price-to-earnings ratio of 22.82 and a beta of 0.01. The stock’s 50 day moving average price is $11.22 and its two-hundred day moving average price is $10.54.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.0643 dividend. This is a drop from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. This represents a $0.77 dividend on an annualized basis and a yield of 6.4%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 145.28%.

About Cross Timbers Royalty Trust

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.