Cross Timbers Royalty Trust (NYSE:CRT) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Cross Timbers Royalty Trust (NYSE:CRT)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.64 and traded as high as $10.85. Cross Timbers Royalty Trust shares last traded at $10.8150, with a volume of 7,244 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Cross Timbers Royalty Trust Trading Up 0.1%

The company’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $9.35. The company has a market cap of $64.89 million, a P/E ratio of 20.03 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings data on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The business had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.0296 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, May 29th. Cross Timbers Royalty Trust’s payout ratio is presently 66.67%.

Insider Buying and Selling

In related news, major shareholder Eric L. Oliver bought 28,861 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was bought at an average cost of $10.44 per share, for a total transaction of $301,308.84. Following the completion of the purchase, the insider directly owned 787,073 shares in the company, valued at approximately $8,217,042.12. The trade was a 3.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 173,377 shares of company stock valued at $1,808,665 in the last three months. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of CRT. Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.3% in the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust in the first quarter valued at approximately $112,000. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust in the first quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust in the 3rd quarter worth about $212,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

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.