Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 7,134 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 7,134 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, September 9th. The stock was bought at an average price of $11.29 per share, for a total transaction of $80,542.86. Following the completion of the transaction, the insider directly owned 989,513 shares of the company’s stock, valued at approximately $11,171,601.77. This represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Down 0.2%

Shares of CRT stock opened at $11.28 on Friday. The company has a market capitalization of $67.70 million, a price-to-earnings ratio of 21.29 and a beta of -0.04. The firm has a 50-day moving average price of $10.14 and a 200 day moving average price of $10.13. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.50.

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

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.0679 dividend. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 152.83%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of CRT. Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of 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 purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust during the first quarter valued at approximately $112,000. Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust during the first quarter worth approximately $157,000. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust in the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 currently has a consensus 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.