Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 23,386 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 23,386 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $10.88 per share, with a total value of $254,439.68. Following the completion of the transaction, the insider directly owned 841,935 shares in the company, valued at approximately $9,160,252.80. The trade was a 2.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Down 0.3%

Shares of Cross Timbers Royalty Trust stock traded down $0.03 during trading on Thursday, hitting $10.75. 6,963 shares of the company were exchanged, compared to its average volume of 35,300. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The stock has a market capitalization of $64.50 million, a price-to-earnings ratio of 19.91 and a beta of -0.02. The firm has a 50 day moving average price of $10.54 and a 200 day moving average price of $9.25.

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 firm had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a $0.0296 dividend. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 3.3%. Cross Timbers Royalty Trust’s payout ratio is 64.81%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Cross Timbers Royalty Trust by 81.3% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,612 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. O Shaughnessy Asset Management LLC raised its holdings in Cross Timbers Royalty Trust by 23.3% in 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 acquiring an additional 2,651 shares during the last quarter. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

About Cross Timbers Royalty Trust

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.