Cross Timbers Royalty Trust (NYSE:CRT) to Issue Dividend Increase – $0.04 Per Share

Cross Timbers Royalty Trust (NYSE:CRT) declared a monthly dividend on Thursday, June 18th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.0442 per share by the oil and gas company on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 49.2% increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03.

Cross Timbers Royalty Trust has decreased its dividend payment by an average of 0.0%annually over the last three years.

Cross Timbers Royalty Trust Price Performance

Shares of CRT opened at $8.86 on Friday. The firm has a market capitalization of $53.16 million, a PE ratio of 16.41 and a beta of -0.04. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The company’s fifty day moving average price is $10.60 and its 200-day moving average price is $9.45.

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

Insider Transactions at Cross Timbers Royalty Trust

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver acquired 28,861 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was acquired at an average cost of $10.44 per share, for a total transaction of $301,308.84. Following the purchase, the insider owned 787,073 shares in the company, valued at approximately $8,217,042.12. The trade was a 3.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 173,377 shares of company stock worth $1,808,665. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRT. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter valued at $212,000. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC lifted its holdings 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 valued at $112,000 after buying an additional 2,651 shares during the period. Finally, Bank of America Corp DE lifted its holdings 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 buying an additional 1,612 shares during the period. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.