Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 3,947 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 3,947 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were acquired at an average cost of $10.51 per share, for a total transaction of $41,482.97. Following the transaction, the insider directly owned 967,685 shares in the company, valued at approximately $10,170,369.35. This trade represents a 0.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

NYSE:CRT opened at $10.71 on Friday. The firm has a 50-day simple moving average of $9.92 and a 200-day simple moving average of $10.04. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.10. The firm has a market cap of $64.26 million, a P/E ratio of 20.21 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings data 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 net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.0679 per share. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 152.83%.

Institutional Trading of Cross Timbers Royalty Trust

Institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust during the third quarter valued at $212,000. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter worth about $157,000. O Shaughnessy Asset Management LLC grew its stake in 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 last quarter. Ritholtz Wealth Management purchased a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. Finally, Bank of America Corp DE increased its holdings 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 during the period. Institutional investors and hedge funds own 9.74% of the company’s stock.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently 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.