Cross Timbers Royalty Trust (NYSE:CRT) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Cross Timbers Royalty Trust (NYSE:CRT)’s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $10.82 and traded as high as $12.96. Cross Timbers Royalty Trust shares last traded at $12.48, with a volume of 28,764 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a report on Monday, September 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Cross Timbers Royalty Trust Stock Up 1.9%

The stock has a market cap of $74.88 million, a P/E ratio of 23.55 and a beta of -0.04. The company’s 50 day moving average price is $10.82 and its 200-day moving average price is $10.38.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share 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 Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.0643 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.2%. This is a negative change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. Cross Timbers Royalty Trust’s dividend payout ratio is 152.83%.

Insider Activity at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver bought 16,360 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average cost of $11.46 per share, for a total transaction of $187,485.60. Following the completion of the acquisition, the insider directly owned 1,005,873 shares of the company’s stock, valued at approximately $11,527,304.58. The trade was a 1.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased 80,913 shares of company stock valued at $861,880 over the last quarter. 9.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust at the end of the most recent quarter. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust (NYSE: CRT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate producing wells itself; instead, it receives distributions based on production and proceeds from the underlying properties after applicable expenses and deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma, with historical interests also connected to properties in New Mexico.