Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $300,293.28 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 34,596 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $8.68 per share, for a total transaction of $300,293.28. Following the purchase, the insider directly owned 917,186 shares of the company’s stock, valued at $7,961,174.48. This trade represents a 3.92% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 0.6%

CRT opened at $8.94 on Friday. The business’s 50 day moving average is $10.38 and its 200-day moving average is $9.45. The stock has a market cap of $53.64 million, a PE ratio of 16.56 and a beta of -0.04. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings data on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.The business had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.0442 per share. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 5.9%. Cross Timbers Royalty Trust’s payout ratio is presently 66.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRT. Bank of America Corp DE raised its holdings in Cross Timbers Royalty Trust by 81.2% during the second 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. Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at $212,000. O Shaughnessy Asset Management LLC increased its position in shares of 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 purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth $112,000. Finally, Welch Group LLC bought a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth $157,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

Analysts Set New Price Targets

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

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.