Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 3,159 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,159 shares of the stock in a transaction on Thursday, March 26th. The shares were acquired at an average cost of $9.91 per share, for a total transaction of $31,305.69. Following the purchase, the insider owned 629,384 shares in the company, valued at $6,237,195.44. The trade was a 0.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 5.1%

Shares of NYSE CRT opened at $10.50 on Friday. The stock has a market cap of $62.97 million, a PE ratio of 13.99 and a beta of 0.10. The company has a 50-day moving average of $9.07 and a 200 day moving average of $8.35. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $13.31.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.0009 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.1%. Cross Timbers Royalty Trust’s payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently bought and sold shares of CRT. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 1,612 shares during the period. Scotia Capital Inc. acquired a new position in shares of Cross Timbers Royalty Trust during the second quarter worth about $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 buying an additional 2,651 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust during the third quarter worth approximately $212,000. Institutional investors and hedge funds 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.