Eric Oliver Buys 20,968 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 20,968 shares of Cross Timbers Royalty Trust stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $8.65 per share, with a total value of $181,373.20. Following the completion of the acquisition, the insider owned 882,590 shares in the company, valued at approximately $7,634,403.50. The trade was a 2.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 2.0%

Shares of Cross Timbers Royalty Trust stock opened at $8.85 on Friday. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The stock has a 50 day moving average price of $10.41 and a two-hundred day moving average price of $9.45. The stock has a market capitalization of $53.07 million, a P/E ratio of 16.38 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 EPS for the quarter. The company had revenue of $0.77 million for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.0442 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 6.0%. Cross Timbers Royalty Trust’s payout ratio is 66.67%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew 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 worth $36,000 after acquiring an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust during the 1st quarter valued at $112,000. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust during the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. 9.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.