Cross Timbers Royalty Trust (NYSE:CRT) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Cross Timbers Royalty Trust (NYSE:CRT) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $9.93 and traded as high as $10.00. Cross Timbers Royalty Trust shares last traded at $9.93, with a volume of 47,705 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded 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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Cross Timbers Royalty Trust Stock Performance

The company has a market cap of $59.58 million, a P/E ratio of 18.39 and a beta of -0.03. The firm has a 50 day moving average price of $9.93 and a 200-day moving average price of $9.58.

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

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.0442 dividend. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, June 30th. 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 98.15%.

Insiders Place Their Bets

In other news, major shareholder Eric L. Oliver purchased 34,596 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was bought at an average cost of $8.68 per share, for a total transaction of $300,293.28. Following the completion of the acquisition, the insider directly owned 917,186 shares of the company’s stock, valued at approximately $7,961,174.48. The trade was a 3.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 118,200 shares of company stock worth $1,142,196. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust during the first quarter worth about $157,000. O Shaughnessy Asset Management LLC increased its stake in 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 valued at $112,000 after acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth approximately $112,000. Finally, Bank of America Corp DE increased its position 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 valued at $36,000 after purchasing an additional 1,612 shares during the period. 9.74% of the stock is owned by 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.