Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $253,238.46 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 26,134 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was purchased at an average cost of $9.69 per share, for a total transaction of $253,238.46. Following the completion of the transaction, the insider owned 626,225 shares in the company, valued at $6,068,120.25. This trade represents a 4.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Stock Performance

Shares of CRT opened at $10.94 on Tuesday. The stock has a 50-day moving average of $9.12 and a two-hundred day moving average of $8.37. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $13.31. The stock has a market cap of $65.64 million, a P/E ratio of 14.39 and a beta of 0.10.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share for the quarter. The business had revenue of $1.64 million for the quarter. Cross Timbers Royalty Trust had a return on equity of 196.11% and a net margin of 77.77%.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.0009 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 0.1%. Cross Timbers Royalty Trust’s dividend payout ratio is currently 78.95%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Cross Timbers Royalty Trust has an average rating of “Sell”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC raised its stake 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 valued at $112,000 after buying an additional 2,651 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the third quarter worth about $212,000. Bank of America Corp DE boosted its stake in shares of Cross Timbers Royalty Trust by 81.3% in 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 buying an additional 1,612 shares during the last quarter. Finally, Scotia Capital Inc. acquired a new stake in Cross Timbers Royalty Trust during the second quarter worth about $109,000. 9.74% of the stock is owned by hedge funds and other institutional investors.

About Cross Timbers Royalty Trust

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.