Cross Timbers Royalty Trust (NYSE:CRT) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Cross Timbers Royalty Trust (NYSE:CRT)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.69 and traded as high as $10.90. Cross Timbers Royalty Trust shares last traded at $10.8050, with a volume of 8,035 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Cross Timbers Royalty Trust Price Performance

The company has a fifty day moving average price of $10.69 and a 200 day moving average price of $9.43. The company has a market capitalization of $64.83 million, a P/E ratio of 20.01 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.The business had revenue of $0.77 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.0296 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 66.67%.

Insider Activity

In other news, major shareholder Eric L. Oliver purchased 28,861 shares of the stock in a transaction dated Friday, April 17th. The stock was acquired at an average price of $10.44 per share, for a total transaction of $301,308.84. Following the completion of the transaction, the insider owned 787,073 shares of the company’s stock, valued at approximately $8,217,042.12. The trade was a 3.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 173,377 shares of company stock worth $1,808,665 over the last three months. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased 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 purchasing an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Cross Timbers Royalty Trust by 23.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after buying an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust during the first quarter worth approximately $112,000. Welch Group LLC bought a new position in Cross Timbers Royalty Trust in the 1st quarter worth approximately $157,000. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust in the 3rd quarter worth approximately $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

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.