Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Acquires 4,047 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 4,047 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were bought at an average cost of $8.66 per share, for a total transaction of $35,047.02. Following the purchase, the insider owned 921,233 shares of the company’s stock, valued at approximately $7,977,877.78. The trade was a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

Cross Timbers Royalty Trust stock opened at $8.94 on Friday. The firm has a 50 day moving average price of $10.38 and a two-hundred day moving average price of $9.45. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10. The firm has a market cap of $53.64 million, a price-to-earnings ratio of 16.56 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share 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%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.0442 dividend. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, June 30th. Cross Timbers Royalty Trust’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Welch Group LLC purchased a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at $157,000. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the 1st quarter worth approximately $112,000. O Shaughnessy Asset Management LLC raised its stake in 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 valued at $112,000 after buying an additional 2,651 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. Finally, Bank of America Corp DE lifted its holdings in shares of 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 buying an additional 1,612 shares during the period. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.