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

Cross Timbers Royalty Trust (NYSE:CRT) released its quarterly earnings data on Thursday. The oil and gas company reported $0.08 earnings per share for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 231.09% and a net margin of 84.24%.

Cross Timbers Royalty Trust Price Performance

Shares of NYSE:CRT traded down $0.06 during trading on Thursday, reaching $8.74. The stock had a trading volume of 64,286 shares, compared to its average volume of 28,419. The stock has a market capitalization of $52.45 million, a PE ratio of 9.57 and a beta of 0.20. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $13.31. The business’s 50-day moving average price is $7.69 and its 200 day moving average price is $8.93.

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.0752 per share. The ex-dividend date of this dividend is Friday, October 31st. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 10.3%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 97.83%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A hedge fund recently raised its stake in Cross Timbers Royalty Trust stock. Bank of America Corp DE lifted its holdings in shares of Cross Timbers Royalty Trust (NYSE:CRT) by 81.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,596 shares of the oil and gas company’s stock after purchasing an additional 1,612 shares during the period. Bank of America Corp DE owned 0.06% of Cross Timbers Royalty Trust worth $36,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cross Timbers Royalty Trust presently has an average rating of “Sell”.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.