Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 4,047 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 4,047 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average cost of $8.66 per share, with a total value of $35,047.02. Following the completion of the purchase, the insider directly owned 921,233 shares in the company, valued at $7,977,877.78. The trade was a 0.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Up 0.6%

CRT traded up $0.05 during trading hours on Friday, reaching $8.94. 12,690 shares of the company’s stock traded hands, compared to its average volume of 34,206. The firm has a 50-day moving average price of $10.41 and a 200 day moving average price of $9.45. The firm has a market capitalization of $53.64 million, a PE ratio of 16.56 and a beta of -0.04. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10.

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 for the quarter. The business had revenue of $0.77 million for 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 business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.0442 per share. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Tuesday, June 30th. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 66.67%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several institutional investors have recently made changes to their positions in the company. Welch Group LLC purchased a new stake in Cross Timbers Royalty Trust in the first quarter worth about $157,000. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC lifted its position 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 worth $112,000 after purchasing an additional 2,651 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the 3rd quarter worth approximately $212,000. Finally, Bank of America Corp DE boosted its stake 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 valued at $36,000 after purchasing an additional 1,612 shares in the last quarter. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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