Cross Timbers Royalty Trust (NYSE:CRT) Issues Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) released its quarterly earnings results on Friday. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Stock Performance

Shares of NYSE:CRT traded up $0.37 during trading on Friday, reaching $12.87. 16,158 shares of the stock were exchanged, compared to its average volume of 28,400. The firm’s 50-day moving average price is $12.45 and its 200 day moving average price is $10.55. The firm has a market cap of $77.22 million, a price-to-earnings ratio of 24.28 and a beta of 0.01. Cross Timbers Royalty Trust has a 12-month low of $7.34 and a 12-month high of $14.63.

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a $0.2779 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $3.33 annualized dividend and a dividend yield of 25.9%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0643. Cross Timbers Royalty Trust’s dividend payout ratio is presently 628.30%.

Insiders Place Their Bets

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver acquired 16,360 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was bought at an average price of $11.46 per share, with a total value of $187,485.60. Following the completion of the transaction, the insider directly owned 1,005,873 shares of the company’s stock, valued at approximately $11,527,304.58. The trade was a 1.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 55,688 shares of company stock worth $631,342 over the last 90 days. Insiders own 9.40% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 13th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Cross Timbers Royalty Trust currently has a consensus rating of “Hold”.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns interests in oil and natural gas properties. The trust does not operate wells or provide energy services directly; instead, it receives income from its underlying royalty and net profits interests in producing properties. The trust’s interests were established from properties formerly associated with Cross Timbers Oil Company and are located primarily in Texas, Oklahoma and New Mexico. Revenue distributions to unitholders depend on production volumes, commodity prices, operating costs and other factors affecting the properties.