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

Cross Timbers Royalty Trust (NYSE:CRT) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.07 and traded as high as $10.63. Cross Timbers Royalty Trust shares last traded at $10.4950, with a volume of 110,792 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of “Sell”.

Cross Timbers Royalty Trust Stock Up 5.1%

The company’s 50-day moving average is $9.07 and its two-hundred day moving average is $8.35. The company has a market cap of $62.97 million, a P/E ratio of 13.99 and a beta of 0.10.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a $0.0009 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.1%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 80.00%.

Insider Transactions at Cross Timbers Royalty Trust

In other news, major shareholder Eric L. Oliver acquired 3,159 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were acquired at an average cost of $9.91 per share, for a total transaction of $31,305.69. Following the purchase, the insider owned 629,384 shares of the company’s stock, valued at approximately $6,237,195.44. The trade was a 0.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Cross Timbers Royalty Trust

Institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the 3rd quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC grew 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 valued at $112,000 after purchasing an additional 2,651 shares in the last quarter. Scotia Capital Inc. bought a new stake in shares of Cross Timbers Royalty Trust during the 2nd quarter valued at $109,000. Finally, Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.3% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,612 shares during the period. 9.74% of the stock is currently 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.