Cross Timbers Royalty Trust (NYSE:CRT) Stock: Insider Eric Oliver Buys 1,377 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 1,377 shares of Cross Timbers Royalty Trust stock in a transaction dated Tuesday, October 13th. The shares were bought at an average price of $12.23 per share, for a total transaction of $16,840.71. Following the acquisition, the insider owned 1,019,426 shares in the company, valued at approximately $12,467,579.98. This trade represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 2.8%

Shares of CRT stock opened at $12.84 on Friday. The company’s 50-day moving average price is $11.37 and its 200-day moving average price is $10.59. The stock has a market cap of $77.01 million, a price-to-earnings ratio of 24.22 and a beta of 0.01. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.15.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data 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 Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.0643 dividend. This represents a $0.77 annualized dividend and a yield of 6.0%. The ex-dividend date was Wednesday, September 30th. This is a negative change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 145.28%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, Cross Timbers Royalty Trust presently has an average rating of “Hold”.

Institutional Trading of Cross Timbers Royalty Trust

A hedge fund recently bought a new stake in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned 0.25% of Cross Timbers Royalty Trust at the end of the most recent quarter. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.