Cross Timbers Royalty Trust (NYSE:CRT) Releases Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) announced its earnings results on Thursday. The oil and gas company reported $0.08 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.

Cross Timbers Royalty Trust Trading Up 0.5%

Shares of CRT stock traded up $0.06 on Thursday, reaching $10.85. 11,902 shares of the company’s stock were exchanged, compared to its average volume of 26,417. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10. The stock has a market capitalization of $65.07 million, a PE ratio of 14.27 and a beta of -0.02. The company’s fifty day simple moving average is $10.34 and its 200 day simple moving average is $9.06.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be paid a dividend of $0.0697 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. Cross Timbers Royalty Trust’s dividend payout ratio is 110.53%.

Insider Activity

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver purchased 8,542 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $10.61 per share, with a total value of $90,630.62. Following the purchase, the insider owned 799,647 shares of the company’s stock, valued at approximately $8,484,254.67. The trade was a 1.08% 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. Over the last three months, insiders purchased 131,089 shares of company stock worth $1,348,760. 9.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its stake in shares of 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 acquiring an additional 2,651 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter worth approximately $212,000. Finally, Bank of America Corp DE raised its position in Cross Timbers Royalty Trust by 81.3% 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 in the last quarter. 9.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company 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.