Eric Oliver Buys 3,727 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 3,727 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $8.88 per share, for a total transaction of $33,095.76. Following the purchase, the insider directly owned 924,960 shares in the company, valued at $8,213,644.80. This represents a 0.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Trading Up 0.6%

NYSE CRT opened at $8.94 on Friday. The stock’s 50-day moving average price is $10.38 and its two-hundred day moving average price is $9.45. The company has a market cap of $53.64 million, a PE ratio of 16.56 and a beta of -0.04. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10.

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

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.0442 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. Cross Timbers Royalty Trust’s payout ratio is currently 66.67%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of 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 valued at $36,000 after buying an additional 1,612 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust in the first quarter worth approximately $112,000. O Shaughnessy Asset Management LLC increased its holdings in 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 worth $112,000 after buying an additional 2,651 shares during the last quarter. Welch Group LLC bought a new position in Cross Timbers Royalty Trust during the first quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the third quarter valued at approximately $212,000. 9.74% of the stock is owned by hedge funds and other institutional investors.

About Cross Timbers Royalty Trust

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.