Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $24,332.07 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 2,289 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, September 2nd. The stock was purchased at an average price of $10.63 per share, with a total value of $24,332.07. Following the purchase, the insider directly owned 969,974 shares in the company, valued at approximately $10,310,823.62. This trade represents a 0.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 2.8%

Shares of 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 firm’s 50-day simple moving average is $9.96 and its 200-day simple moving average is $10.05. The company has a market cap of $65.70 million, a price-to-earnings ratio of 20.66 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last posted 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 firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.0679 dividend. The ex-dividend date is Monday, August 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) annualized dividend and a yield of 7.4%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 152.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRT. Bank of America Corp DE boosted its position 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 worth $36,000 after buying an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in 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 valued at $112,000 after acquiring an additional 2,651 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust during the first quarter worth about $157,000. Finally, Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter worth about $212,000. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Analyst Ratings Changes

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