Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 20,968 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 20,968 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $8.65 per share, with a total value of $181,373.20. Following the completion of the purchase, the insider directly owned 882,590 shares in the company, valued at $7,634,403.50. This represents a 2.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

Shares of CRT stock opened at $8.66 on Thursday. The stock has a market capitalization of $51.98 million, a price-to-earnings ratio of 16.04 and a beta of -0.04. The company’s fifty day simple moving average is $10.44 and its two-hundred day simple moving average is $9.45. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10.

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

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.0442 per share. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Cross Timbers Royalty Trust’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in shares of Cross Timbers Royalty Trust by 81.2% during 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 purchasing an additional 1,612 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust during the third quarter valued at about $212,000. O Shaughnessy Asset Management LLC grew 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 valued at $112,000 after buying an additional 2,651 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at about $112,000. Finally, Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the first quarter worth about $157,000. 9.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.