Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $33,095.76 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 3,727 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $8.88 per share, for a total transaction of $33,095.76. Following the completion of the transaction, the insider owned 924,960 shares in the company, valued at approximately $8,213,644.80. This represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Down 1.0%

NYSE 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’s fifty day moving average price is $10.38 and its 200-day moving average price is $9.46. The stock has a market cap of $53.64 million, a P/E ratio of 16.56 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. The company had revenue of $0.77 million during 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 company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.0442 dividend. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Cross Timbers Royalty Trust’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Hold rating, According to MarketBeat.com, Cross Timbers Royalty Trust currently has an average rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. O Shaughnessy Asset Management LLC lifted 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 valued at $112,000 after acquiring an additional 2,651 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at about $112,000. Finally, Bank of America Corp DE grew its position in Cross Timbers Royalty Trust by 81.2% in the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,612 shares in the last quarter. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.