Eric Oliver Acquires 28,861 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 28,861 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $10.44 per share, for a total transaction of $301,308.84. Following the acquisition, the insider directly owned 787,073 shares in the company, valued at $8,217,042.12. This trade represents a 3.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

NYSE:CRT opened at $10.95 on Thursday. The stock’s fifty day moving average is $9.81 and its 200 day moving average is $8.73. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The firm has a market capitalization of $65.68 million, a PE ratio of 14.40 and a beta of 0.03.

Cross Timbers Royalty Trust (NYSE:CRT) last released its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.The company had revenue of $1.64 million for the quarter.

Cross Timbers Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a dividend of $0.0697 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Thursday, April 30th. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. Cross Timbers Royalty Trust’s payout ratio is currently 78.95%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its position in 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 valued at $36,000 after acquiring an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Cross Timbers Royalty Trust by 23.3% in 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 position in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. Welch Group LLC bought a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Institutional investors own 9.74% of the company’s stock.

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.