Cross Timbers Royalty Trust (NYSE:CRT) Posts Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) released its quarterly earnings results on Thursday. The oil and gas company reported $0.08 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 231.09% and a net margin of 84.24%.

Cross Timbers Royalty Trust Stock Up 1.0%

Shares of CRT traded up $0.09 during mid-day trading on Friday, hitting $8.88. 36,738 shares of the company traded hands, compared to its average volume of 28,513. The company has a market capitalization of $53.26 million, a PE ratio of 9.65 and a beta of 0.20. The business has a 50 day moving average of $7.69 and a 200 day moving average of $8.92. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $13.31.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.0752 per share. This represents a c) annualized dividend and a dividend yield of 10.2%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Friday, October 31st. Cross Timbers Royalty Trust’s dividend payout ratio is currently 120.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cross Timbers Royalty Trust stock. Bank of America Corp DE grew its stake in Cross Timbers Royalty Trust (NYSE:CRT) by 81.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,596 shares of the oil and gas company’s stock after buying an additional 1,612 shares during the period. Bank of America Corp DE owned 0.06% of Cross Timbers Royalty Trust worth $36,000 at the end of the most recent quarter. 9.74% of the stock is owned by institutional investors.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.