Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 23,386 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 23,386 shares of Cross Timbers Royalty Trust stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $10.88 per share, with a total value of $254,439.68. Following the completion of the purchase, the insider directly owned 841,935 shares in the company, valued at $9,160,252.80. This represents a 2.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major 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 0.3%

Cross Timbers Royalty Trust stock opened at $10.75 on Friday. The firm has a 50 day moving average of $10.56 and a 200 day moving average of $9.28. The firm has a market capitalization of $64.50 million, a price-to-earnings ratio of 19.91 and a beta of -0.02. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) 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 Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.0296 dividend. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio is currently 155.56%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Cross Timbers Royalty Trust by 81.3% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Cross Timbers Royalty Trust by 23.3% during 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 purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at about $112,000. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at about $157,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the third quarter valued at about $212,000. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.