Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys 34,596 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 34,596 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $8.68 per share, with a total value of $300,293.28. Following the acquisition, the insider owned 917,186 shares in the company, valued at $7,961,174.48. The trade was a 3.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

NYSE CRT traded up $0.08 during trading on Wednesday, hitting $8.66. 21,390 shares of the company’s stock traded hands, compared to its average volume of 27,217. The stock has a market capitalization of $51.98 million, a price-to-earnings ratio of 16.04 and a beta of -0.04. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The business has a 50 day moving average of $10.44 and a 200-day moving average of $9.45.

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

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.0442 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 6.1%. Cross Timbers Royalty Trust’s payout ratio is 66.67%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the third quarter worth about $212,000. Welch Group LLC purchased a new position in Cross Timbers Royalty Trust during the first quarter valued at approximately $157,000. O Shaughnessy Asset Management LLC increased its holdings in 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 worth $112,000 after acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the 1st quarter worth approximately $112,000. Finally, Bank of America Corp DE increased its holdings in Cross Timbers Royalty Trust by 81.2% during 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 acquiring an additional 1,612 shares during the period. 9.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cross Timbers Royalty Trust presently has a consensus rating of “Hold”.

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.