Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) major shareholder Eric Oliver bought 3,087 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $10.12 per share, with a total value of $31,240.44. Following the acquisition, the insider directly owned 954,129 shares of the company’s stock, valued at approximately $9,655,785.48. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Down 0.4%
Shares of NYSE CRT opened at $10.53 on Wednesday. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10. The business’s 50 day moving average price is $9.66 and its 200 day moving average price is $9.87. The firm has a market cap of $63.15 million, a P/E ratio of 19.86 and a beta of -0.05.
Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.
Cross Timbers Royalty Trust Increases Dividend
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted 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 during the period. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust during the third quarter worth $212,000. 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 buying an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the first quarter valued at $112,000. Finally, Welch Group LLC purchased a new position in Cross Timbers Royalty Trust in the first quarter valued at $157,000. 9.74% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
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, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Read Our Latest Research Report on Cross Timbers Royalty Trust
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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