Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 6,041 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 6,041 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Thursday, October 8th. The shares were purchased at an average price of $11.99 per share, for a total transaction of $72,431.59. Following the transaction, the insider directly owned 1,013,232 shares in the company, valued at $12,148,651.68. This represents a 0.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

Shares of CRT opened at $11.95 on Friday. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $13.15. The company has a market cap of $71.68 million, a P/E ratio of 22.54 and a beta of 0.01. The firm has a 50 day simple moving average of $11.19 and a two-hundred day simple moving average of $10.52.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share 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 Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.0643 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.77 annualized dividend and a dividend yield of 6.5%. This is a decrease from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. Cross Timbers Royalty Trust’s dividend payout ratio is currently 145.28%.

Institutional Trading of Cross Timbers Royalty Trust

An institutional investor recently bought a new stake in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust as of its most recent SEC filing. 9.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a research report on Monday, September 14th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.