Eric Oliver Purchases 13,132 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 13,132 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $9.95 per share, with a total value of $130,663.40. Following the transaction, the insider owned 938,092 shares in the company, valued at approximately $9,334,015.40. This trade represents a 1.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 Price Performance

Shares of NYSE:CRT traded up $0.07 during midday trading on Thursday, hitting $10.18. The company had a trading volume of 22,003 shares, compared to its average volume of 30,089. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The company has a fifty day moving average of $9.69 and a two-hundred day moving average of $9.82. The company has a market cap of $61.05 million, a price-to-earnings ratio of 18.84 and a beta of -0.05.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results 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 145.81% and a net margin of 71.40%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.0614 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. Cross Timbers Royalty Trust’s payout ratio is presently 135.19%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at about $212,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the first quarter worth about $157,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust during the first quarter worth about $112,000. O Shaughnessy Asset Management LLC raised 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 period. Finally, Bank of America Corp DE raised its stake in Cross Timbers Royalty Trust by 81.2% during 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 purchasing an additional 1,612 shares during the period. Institutional investors own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered 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 MarketBeat, the stock currently has an average 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.