Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $31,240.44 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 3,087 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $10.12 per share, with a total value of $31,240.44. Following the transaction, the insider directly owned 954,129 shares of the company’s stock, valued at $9,655,785.48. This represents a 0.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 0.1%

NYSE CRT opened at $10.59 on Thursday. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The business has a fifty day moving average of $9.66 and a 200-day moving average of $9.89. The stock has a market cap of $63.53 million, a price-to-earnings ratio of 19.98 and a beta of -0.05.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.0614 dividend. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. The ex-dividend date was Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 7.0%. Cross Timbers Royalty Trust’s payout ratio is currently 139.62%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several large investors have recently added to or reduced their stakes in CRT. Bank of America Corp DE grew its holdings in Cross Timbers Royalty Trust by 81.2% in 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 period. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter worth about $212,000. O Shaughnessy Asset Management LLC boosted its position in shares of 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 acquiring an additional 2,651 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth approximately $112,000. Finally, Welch Group LLC purchased a new stake in Cross Timbers Royalty Trust in the first quarter valued at approximately $157,000. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust has an average 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.