Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 3,087 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,087 shares of the stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $10.12 per share, with a total value of $31,240.44. Following the completion of the purchase, the insider directly owned 954,129 shares in the company, valued at $9,655,785.48. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT traded up $0.16 during trading on Monday, hitting $10.53. The company’s stock had a trading volume of 18,763 shares, compared to its average volume of 30,022. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10. The stock has a market cap of $63.18 million, a PE ratio of 19.87 and a beta of -0.05. The firm’s 50 day moving average price is $9.67 and its 200-day moving average price is $9.85.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.0614 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. Cross Timbers Royalty Trust’s dividend payout ratio is 139.62%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter worth about $157,000. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter worth approximately $112,000. O Shaughnessy Asset Management LLC raised its holdings 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 buying an additional 2,651 shares during the period. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter valued at approximately $212,000. Finally, Bank of America Corp DE lifted its position 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 valued at $36,000 after buying an additional 1,612 shares in the last quarter. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company 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.