Eric Oliver Buys 13,132 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 13,132 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $9.95 per share, with a total value of $130,663.40. Following the acquisition, the insider owned 938,092 shares in the company, valued at $9,334,015.40. This trade represents a 1.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 2.7%

NYSE CRT opened at $10.35 on Friday. The firm’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $9.84. The firm has a market capitalization of $62.07 million, a price-to-earnings ratio of 19.52 and a beta of -0.05. 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 announced its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 146.32%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.0614 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. Cross Timbers Royalty Trust’s dividend payout ratio is 137.04%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the third quarter worth $212,000. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. O Shaughnessy Asset Management LLC boosted 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 valued at $112,000 after acquiring an additional 2,651 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the 1st quarter worth $112,000. Finally, Bank of America Corp DE increased 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 worth $36,000 after purchasing an additional 1,612 shares in the last quarter. Institutional investors own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded 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, According to MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of “Hold”.

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.