Cross Timbers Royalty Trust (NYSE:CRT) Announces Dividend Increase – $0.04 Per Share

Cross Timbers Royalty Trust (NYSE:CRT) declared a monthly dividend on Thursday, June 18th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.0442 per share by the oil and gas company on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 49.2% increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03.

Cross Timbers Royalty Trust has decreased its dividend payment by an average of 0.0%annually over the last three years.

Cross Timbers Royalty Trust Trading Down 5.9%

NYSE:CRT traded down $0.56 during midday trading on Thursday, reaching $8.86. The company had a trading volume of 44,556 shares, compared to its average volume of 34,013. The stock’s fifty day simple moving average is $10.64 and its 200-day simple moving average is $9.45. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The firm has a market capitalization of $53.16 million, a price-to-earnings ratio of 16.41 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 EPS for the quarter. The business had revenue of $0.77 million during the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.

Analyst Upgrades and Downgrades

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