Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $80,542.86 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 7,134 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average price of $11.29 per share, for a total transaction of $80,542.86. Following the completion of the purchase, the insider directly owned 989,513 shares of the company’s stock, valued at $11,171,601.77. This trade represents a 0.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Stock Up 4.3%

Shares of NYSE:CRT opened at $11.76 on Friday. The business has a 50 day moving average price of $10.19 and a 200 day moving average price of $10.14. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.90. The company has a market cap of $70.58 million, a price-to-earnings ratio of 22.20 and a beta of -0.04.

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 (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.0679 per share. This represents a c) dividend on an annualized basis and a yield of 6.9%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust’s payout ratio is presently 152.83%.

Institutional Trading of Cross Timbers Royalty Trust

Several institutional investors have recently modified their holdings of CRT. Bank of America Corp DE raised its stake in shares of Cross Timbers Royalty Trust by 81.2% in the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Cross Timbers Royalty Trust by 23.3% during 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 buying an additional 2,651 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

Analyst Ratings Changes

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