Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 1,377 Shares of Company Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 1,377 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The shares were bought at an average price of $12.23 per share, with a total value of $16,840.71. Following the transaction, the insider owned 1,019,426 shares of the company’s stock, valued at $12,467,579.98. The trade was a 0.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

CRT opened at $12.48 on Thursday. The stock has a market capitalization of $74.89 million, a price-to-earnings ratio of 23.23 and a beta of 0.01. The company has a fifty day moving average of $11.31 and a 200 day moving average of $10.58. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $13.15.

Cross Timbers Royalty Trust (NYSE:CRT) last announced 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 Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.0643 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a drop from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. This represents a $0.77 dividend on an annualized basis and a yield of 6.2%. Cross Timbers Royalty Trust’s dividend payout ratio is currently 145.28%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

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

Analyst Ratings Changes

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently 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.