Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $24,332.07 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 2,289 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $10.63 per share, for a total transaction of $24,332.07. Following the purchase, the insider directly owned 969,974 shares in the company, valued at $10,310,823.62. This represents a 0.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major 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 Up 1.2%

CRT stock traded up $0.13 during trading on Thursday, reaching $10.71. 6,611 shares of the company’s stock were exchanged, compared to its average volume of 29,088. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The company’s fifty day moving average price is $9.89 and its 200-day moving average price is $10.03. The firm has a market cap of $64.26 million, a PE ratio of 20.21 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 EPS 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 Increases Dividend

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

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 research report on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of Cross Timbers Royalty Trust

A number of large investors have recently added to or reduced their stakes in CRT. Bank of America Corp DE grew its position in 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 buying an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of 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 acquiring an additional 2,651 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter worth $112,000. Welch Group LLC bought a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter worth $157,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. 9.74% of the stock is currently owned by institutional investors.

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.