Cross Timbers Royalty Trust (NYSE:CRT) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Cross Timbers Royalty Trust (NYSE:CRT)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 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 traded.

Analysts Set New Price Targets

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

Cross Timbers Royalty Trust Trading Up 8.2%

The stock has a market cap of $59.58 million, a P/E ratio of 18.39 and a beta of -0.03. The firm’s fifty day moving average is $9.93 and its 200 day moving average is $9.58.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The company had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.0442 dividend. The ex-dividend date was Tuesday, June 30th. This represents a c) annualized dividend and a yield of 5.3%. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 98.15%.

Insider Activity

In related news, major shareholder Eric L. Oliver acquired 34,596 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $8.68 per share, with a total value of $300,293.28. Following the completion of the transaction, the insider owned 917,186 shares of the company’s stock, valued at approximately $7,961,174.48. This represents a 3.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have bought 118,200 shares of company stock worth $1,142,196. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. O Shaughnessy Asset Management LLC grew its position in Cross Timbers Royalty Trust by 23.3% in 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 acquiring an additional 2,651 shares during the period. Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust in the third quarter valued at $212,000. Finally, Bank of America Corp DE raised its stake in Cross Timbers Royalty Trust by 81.2% during 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. 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.