Cross Timbers Royalty Trust (NYSE:CRT) Stock: Insider Eric Oliver Buys 4,817 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 4,817 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The shares were acquired at an average cost of $12.00 per share, with a total value of $57,804.00. Following the purchase, the insider owned 1,018,049 shares in the company, valued at $12,216,588. This represents a 0.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 2.8%

CRT stock opened at $12.84 on Friday. The company has a market cap of $77.01 million, a price-to-earnings ratio of 24.22 and a beta of 0.01. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $13.15. The firm has a 50-day moving average of $11.37 and a two-hundred day moving average of $10.59.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share 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 business also recently disclosed a monthly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.0643 dividend. This is a decrease from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. The ex-dividend date was Wednesday, September 30th. This represents a $0.77 annualized dividend and a yield of 6.0%. Cross Timbers Royalty Trust’s payout ratio is presently 145.28%.

Wall Street Analysts Forecast Growth

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 Tuesday. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A hedge fund recently bought a new stake in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management purchased a new stake in Cross Timbers Royalty Trust (NYSE:CRT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,558 shares of the oil and gas company’s stock, valued at approximately $112,000. Ritholtz Wealth Management owned approximately 0.18% of Cross Timbers Royalty Trust as of its most recent SEC filing. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.