Cross Timbers Royalty Trust (NYSE:CRT) Plans Dividend Increase – $0.04 Per Share

Cross Timbers Royalty Trust (NYSE:CRT) announced a monthly dividend on Thursday, June 18th. Investors of record on Tuesday, June 30th will be given a dividend of 0.0442 per share by the oil and gas company on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, June 30th. This is a 49.2% increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03.

Cross Timbers Royalty Trust has decreased its dividend payment by an average of 0.0%annually over the last three years.

Cross Timbers Royalty Trust Trading Down 5.9%

CRT stock traded down $0.56 on Thursday, hitting $8.86. The company’s stock had a trading volume of 44,556 shares, compared to its average volume of 34,013. The stock has a market cap of $53.16 million, a price-to-earnings ratio of 16.41 and a beta of -0.04. The firm has a 50 day moving average of $10.64 and a two-hundred day moving average of $9.45. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings data 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 for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently 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.