Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 4,047 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 4,047 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were bought at an average cost of $8.66 per share, for a total transaction of $35,047.02. Following the transaction, the insider owned 921,233 shares of the company’s stock, valued at $7,977,877.78. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 0.6%

Shares of NYSE CRT traded up $0.05 during trading hours on Friday, hitting $8.94. 12,690 shares of the stock were exchanged, compared to its average volume of 34,206. The company has a market cap of $53.64 million, a PE ratio of 16.56 and a beta of -0.04. The firm has a fifty day moving average price of $10.41 and a 200-day moving average price of $9.45. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. The company 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. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.0442 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 66.67%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded 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, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of Cross Timbers Royalty Trust

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in shares of Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Cross Timbers Royalty Trust by 23.3% in 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 during the period. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. Welch Group LLC purchased a new position in Cross Timbers Royalty Trust in the 1st quarter worth $157,000. Finally, Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. 9.74% of the stock is currently 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.