Eric Oliver Acquires 12,950 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 12,950 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $10.08 per share, with a total value of $130,536.00. Following the transaction, the insider owned 951,042 shares in the company, valued at $9,586,503.36. This represents a 1.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

CRT stock traded up $0.07 during trading on Thursday, hitting $10.18. The stock had a trading volume of 22,003 shares, compared to its average volume of 30,089. The stock has a market cap of $61.05 million, a price-to-earnings ratio of 18.84 and a beta of -0.05. The company’s 50 day moving average price is $9.69 and its two-hundred day moving average price is $9.82. 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 released its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.0614 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) annualized dividend and a dividend yield of 7.2%. Cross Timbers Royalty Trust’s payout ratio is currently 135.19%.

Institutional Trading of Cross Timbers Royalty Trust

A number of hedge funds have recently added to or reduced their stakes in CRT. Bank of America Corp DE grew its holdings in 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. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cross Timbers Royalty Trust by 23.3% during 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth approximately $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth approximately $157,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust in the third quarter worth approximately $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings cut 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 equities 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.