Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) major shareholder Eric Oliver acquired 34,596 shares of the stock in a transaction on Tuesday, June 23rd. The stock was bought at an average price of $8.68 per share, with a total value of $300,293.28. Following the transaction, the insider directly owned 917,186 shares of the company’s stock, valued at approximately $7,961,174.48. The trade was a 3.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Performance
NYSE:CRT opened at $8.66 on Thursday. 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 cap of $51.98 million, a PE ratio of 16.04 and a beta of -0.04. The business has a 50 day moving average price of $10.44 and a 200-day moving average price of $9.45.
Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) last issued its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The company had revenue of $0.77 million for the quarter.
Cross Timbers Royalty Trust Increases Dividend
Hedge Funds Weigh In On Cross Timbers Royalty Trust
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings 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 valued at $36,000 after acquiring an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of 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 worth $112,000 after purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth about $112,000. Welch Group LLC bought a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold”.
Check Out Our Latest Research Report on CRT
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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