Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $35,047.02 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 4,047 shares of the stock in a transaction dated Wednesday, June 24th. The shares were acquired at an average price of $8.66 per share, with a total value of $35,047.02. Following the completion of the purchase, the insider directly owned 921,233 shares of the company’s stock, valued at approximately $7,977,877.78. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT opened at $8.94 on Monday. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The stock has a market capitalization of $53.64 million, a PE ratio of 16.56 and a beta of -0.04. The firm’s fifty day moving average price is $10.38 and its 200 day moving average price is $9.46.

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

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.0442 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s payout ratio is currently 66.67%.

Institutional Trading of Cross Timbers Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of CRT. Bank of America Corp DE lifted its position in shares of Cross Timbers Royalty Trust by 81.2% during 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 acquiring an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Cross Timbers Royalty Trust by 23.3% in the 4th 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 during the first quarter worth $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust during the first quarter worth $157,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust during the third quarter valued at $212,000. Institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently 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.