Cross Timbers Royalty Trust (NYSE:CRT) Raises Dividend to $0.06 Per Share

Cross Timbers Royalty Trust (NYSE:CRT) announced a monthly dividend on Tuesday, July 21st. Stockholders of record on Friday, July 31st will be paid a dividend of 0.0614 per share by the oil and gas company on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, July 31st. This is a 39.0% increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04.

Cross Timbers Royalty Trust has decreased its dividend by an average of 0.0%per year over the last three years.

Cross Timbers Royalty Trust Price Performance

Shares of NYSE CRT traded up $0.06 during midday trading on Tuesday, reaching $9.71. 8,387 shares of the stock traded hands, compared to its average volume of 31,647. The company’s 50 day moving average is $9.92 and its 200 day moving average is $9.61. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.10. The stock has a market capitalization of $58.29 million, a PE ratio of 17.99 and a beta of -0.03.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results 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 net margin of 71.40% and a return on equity of 145.81%. The company had revenue of $0.77 million for the quarter.

Wall Street Analyst Weigh In

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, Based on 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.