Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.69 and traded as high as $10.90. Cross Timbers Royalty Trust shares last traded at $10.8050, with a volume of 8,035 shares.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.
View Our Latest Stock Analysis on Cross Timbers Royalty Trust
Cross Timbers Royalty Trust Stock Performance
Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $0.77 million 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 Cuts Dividend
The firm also recently announced a monthly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.0296 per share. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 66.67%.
Insider Transactions at Cross Timbers Royalty Trust
In related news, major shareholder Eric L. Oliver bought 28,861 shares of the stock in a transaction on Friday, April 17th. The shares were bought at an average cost of $10.44 per share, for a total transaction of $301,308.84. Following the purchase, the insider owned 787,073 shares of the company’s stock, valued at $8,217,042.12. This trade represents a 3.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders purchased 173,377 shares of company stock worth $1,808,665. Company insiders own 9.40% of the company’s stock.
Hedge Funds Weigh In On Cross Timbers Royalty Trust
Several hedge funds and other institutional investors have recently bought and sold shares of CRT. Bank of America Corp DE grew its position in shares of Cross Timbers Royalty Trust by 81.3% in the second 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. O Shaughnessy Asset Management LLC grew 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 valued at $112,000 after acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management purchased a new stake in Cross Timbers Royalty Trust during the first quarter valued at about $112,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth about $157,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the third quarter worth about $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.
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.
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