Eric Oliver Acquires 26,134 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 26,134 shares of the stock in a transaction on Wednesday, March 25th. The shares were purchased at an average price of $9.69 per share, for a total transaction of $253,238.46. Following the transaction, the insider directly owned 626,225 shares of the company’s stock, valued at approximately $6,068,120.25. This represents a 4.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Up 5.1%

Shares of CRT stock opened at $10.50 on Friday. The business has a 50-day moving average price of $9.07 and a two-hundred day moving average price of $8.35. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $13.31. The firm 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 dividend of $0.0009 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 80.00%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. O Shaughnessy Asset Management LLC lifted its stake 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 purchasing an additional 2,651 shares during the last quarter. Scotia Capital Inc. purchased a new stake in Cross Timbers Royalty Trust during the second quarter valued at about $109,000. Finally, Bank of America Corp DE boosted its position in Cross Timbers Royalty Trust by 81.3% 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 buying an additional 1,612 shares during the period. Institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cross Timbers Royalty Trust has an average rating of “Sell”.

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.