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

Cross Timbers Royalty Trust (NYSE:CRT) announced its quarterly earnings data on Thursday. The oil and gas company reported $0.14 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Trading Down 0.5%

CRT stock traded down $0.05 during trading on Thursday, reaching $10.05. The stock had a trading volume of 15,508 shares, compared to its average volume of 30,016. The firm has a market cap of $60.30 million, a PE ratio of 18.61 and a beta of -0.05. The stock’s 50 day moving average is $9.69 and its two-hundred day moving average is $9.82. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.0614 dividend. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Friday, July 31st. Cross Timbers Royalty Trust’s dividend payout ratio is currently 135.19%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver purchased 3,727 shares of Cross Timbers Royalty Trust stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $8.88 per share, with a total value of $33,095.76. Following the transaction, the insider directly owned 924,960 shares of the company’s stock, valued at $8,213,644.80. This trade represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 105,626 shares of company stock worth $1,009,714. Insiders own 9.40% of the company’s stock.

Institutional Trading of Cross Timbers Royalty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRT. O Shaughnessy Asset Management LLC raised its position 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 worth $112,000 after acquiring an additional 2,651 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. Finally, Bank of America Corp DE increased its stake in shares of Cross Timbers Royalty Trust by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,612 shares in the last quarter. 9.74% of the stock is owned by hedge funds and other institutional investors.

Cross Timbers Royalty Trust Company Profile

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.