Cross Timbers Royalty Trust (NYSE:CRT) Announces Quarterly Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) issued its earnings results on Thursday. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $0.77 million for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 144.14%.

Cross Timbers Royalty Trust Stock Performance

Shares of Cross Timbers Royalty Trust stock traded down $0.12 during trading hours on Friday, reaching $10.77. The company’s stock had a trading volume of 11,663 shares, compared to its average volume of 26,581. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.10. The company has a market capitalization of $64.62 million, a P/E ratio of 19.94 and a beta of -0.02. The stock’s fifty day simple moving average is $10.37 and its two-hundred day simple moving average is $9.07.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were paid a $0.0697 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. The ex-dividend date of this dividend was Thursday, April 30th. Cross Timbers Royalty Trust’s payout ratio is 153.70%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust has an average rating of “Hold”.

Insider Buying and Selling at Cross Timbers Royalty Trust

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver acquired 28,861 shares of the company’s stock in a transaction on Friday, April 17th. The shares were purchased at an average cost of $10.44 per share, with a total value of $301,308.84. Following the completion of the purchase, the insider owned 787,073 shares of the company’s stock, valued at approximately $8,217,042.12. This represents a 3.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 131,089 shares of company stock valued at $1,348,760 over the last 90 days. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted 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 valued at $36,000 after buying an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Cross Timbers Royalty Trust by 23.3% in the fourth 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 in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at $212,000. 9.74% of the stock is owned by institutional investors.

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.