Cross Timbers Royalty Trust (NYSE:CRT) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Cross Timbers Royalty Trust (NYSE:CRT)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.18 and traded as low as $7.40. Cross Timbers Royalty Trust shares last traded at $7.40, with a volume of 92,260 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Cross Timbers Royalty Trust Stock Performance

The business has a fifty day simple moving average of $8.18 and a 200-day simple moving average of $9.41. The firm has a market cap of $44.40 million, a price-to-earnings ratio of 8.04 and a beta of 0.09.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Wednesday, August 13th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 231.09% and a net margin of 84.24%.The firm had revenue of $1.31 million for the quarter.

Cross Timbers Royalty Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.0318 per share. The ex-dividend date is Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 41.30%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several institutional investors and hedge funds have recently bought and sold shares of CRT. Bank of America Corp DE lifted its holdings in shares of Cross Timbers Royalty Trust by 81.3% in the 2nd 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. PNC Financial Services Group Inc. lifted its stake in shares of Cross Timbers Royalty Trust by 2,500.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,400 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 10,000 shares during the period. Scotia Capital Inc. acquired a new stake in shares of Cross Timbers Royalty Trust in the second quarter valued at about $109,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust in the second quarter valued at about $169,000. 9.74% of the stock is owned by hedge funds and other institutional investors.

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.