Cross Timbers Royalty Trust (NYSE:CRT) Short Interest Update

Cross Timbers Royalty Trust (NYSE:CRT) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 45,579 shares, an increase of 84.4% from the May 31st total of 24,719 shares. Based on an average daily trading volume, of 20,493 shares, the short-interest ratio is currently 2.2 days. Currently, 0.8% of the shares of the company are sold short.

Cross Timbers Royalty Trust Stock Performance

Shares of CRT opened at $9.00 on Thursday. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10. The stock has a market capitalization of $54.01 million, a price-to-earnings ratio of 16.67 and a beta of -0.03. The stock has a fifty day moving average of $10.29 and a 200-day moving average of $9.48.

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

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.0442 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 5.9%. Cross Timbers Royalty Trust’s payout ratio is currently 98.15%.

Insiders Place Their Bets

In other news, major shareholder Eric L. Oliver bought 3,727 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $8.88 per share, with a total value of $33,095.76. Following the completion of the acquisition, the insider owned 924,960 shares of the company’s stock, valued at $8,213,644.80. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders purchased 194,130 shares of company stock worth $1,934,324. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Cross Timbers Royalty Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Welch Group LLC bought a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Ritholtz Wealth Management bought a new position in Cross Timbers Royalty Trust during the first quarter worth $112,000. O Shaughnessy Asset Management LLC lifted its holdings 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 valued at $112,000 after buying an additional 2,651 shares during the period. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust in the third quarter valued at $212,000. Finally, Bank of America Corp DE boosted its position in 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 acquiring an additional 1,612 shares during the last quarter. 9.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently 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.