Eric Oliver Buys 3,947 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,947 shares of Cross Timbers Royalty Trust stock in a transaction on Tuesday, September 1st. The stock was acquired at an average cost of $10.51 per share, with a total value of $41,482.97. Following the acquisition, the insider owned 967,685 shares of the company’s stock, valued at $10,170,369.35. This trade represents a 0.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 2.8%

NYSE:CRT opened at $10.95 on Friday. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The stock has a market cap of $65.70 million, a PE ratio of 20.66 and a beta of -0.04. The firm’s fifty day simple moving average is $9.96 and its 200-day simple moving average is $10.05.

Cross Timbers Royalty Trust (NYSE:CRT) last announced 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 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.0679 dividend. This represents a c) dividend on an annualized basis and a yield of 7.4%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio is 152.83%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRT. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the 3rd quarter valued at about $212,000. O Shaughnessy Asset Management LLC raised its position in 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 acquiring an additional 2,651 shares during the last quarter. Bank of America Corp DE raised its position in 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 worth $36,000 after acquiring an additional 1,612 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at about $112,000. Finally, Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at about $157,000. 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.