Cross Timbers Royalty Trust (NYSE:CRT) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Cross Timbers Royalty Trust (NYSE:CRT) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $9.93 and traded as high as $10.00. Cross Timbers Royalty Trust shares last traded at $9.93, with a volume of 47,705 shares trading hands.

Analyst Upgrades and Downgrades

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

Cross Timbers Royalty Trust Price Performance

The business has a fifty day moving average of $9.93 and a 200-day moving average of $9.58. The stock has a market capitalization of $59.58 million, a price-to-earnings ratio of 18.39 and a beta of -0.03.

Cross Timbers Royalty Trust (NYSE:CRT) last released its 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 business also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.0442 per share. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date was Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. Cross Timbers Royalty Trust’s payout ratio is currently 98.15%.

Insider Buying and Selling at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver acquired 3,727 shares of Cross Timbers Royalty Trust stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $8.88 per share, with a total value of $33,095.76. Following the purchase, the insider directly owned 924,960 shares in the company, valued at $8,213,644.80. The trade was a 0.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders acquired 118,200 shares of company stock worth $1,142,196. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in 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 in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Cross Timbers Royalty Trust by 23.3% during 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 buying an additional 2,651 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at $112,000. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust during the first quarter valued at $157,000. Finally, Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the third quarter valued at about $212,000. 9.74% of the stock is 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.