Cross Timbers Royalty Trust (NYSE:CRT) Issues Quarterly Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) released its quarterly earnings results on Thursday. The oil and gas company reported $0.14 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.

Cross Timbers Royalty Trust Stock Performance

Shares of NYSE CRT traded up $0.26 during mid-day trading on Friday, hitting $10.33. The stock had a trading volume of 10,974 shares, compared to its average volume of 29,967. The firm has a market cap of $61.97 million, a PE ratio of 19.09 and a beta of -0.05. The company has a 50 day moving average of $9.68 and a two-hundred day moving average of $9.83. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.0614 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is 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 payout ratio is currently 137.04%.

Insiders Place Their Bets

In other news, major shareholder Eric L. Oliver purchased 12,950 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $10.08 per share, for a total transaction of $130,536.00. Following the purchase, the insider owned 951,042 shares in the company, valued at $9,586,503.36. This trade represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders bought 131,708 shares of company stock worth $1,270,913. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Large investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in Cross Timbers Royalty Trust by 23.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after buying an additional 2,651 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Finally, Bank of America Corp DE increased its stake in shares of Cross Timbers Royalty Trust by 81.2% in 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 during the period. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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 research note on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cross Timbers Royalty Trust currently has an average rating of “Hold”.

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.