Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $15,143.82 in Stock

Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) major shareholder Eric Oliver purchased 1,318 shares of the business’s stock in a transaction dated Wednesday, October 7th. The shares were purchased at an average price of $11.49 per share, for a total transaction of $15,143.82. Following the acquisition, the insider owned 1,007,191 shares of the company’s stock, valued at approximately $11,572,624.59. The trade was a 0.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

Shares of CRT traded up $0.01 on Friday, hitting $11.95. 7,474 shares of the stock traded hands, compared to its average volume of 29,435. The company has a market capitalization of $71.68 million, a PE ratio of 22.54 and a beta of 0.01. The business has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $10.51. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $13.15.

Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share 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 Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.0643 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a negative change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. Cross Timbers Royalty Trust’s dividend payout ratio is 145.28%.

Institutional Trading of Cross Timbers Royalty Trust

A hedge fund recently bought a new stake in Cross Timbers Royalty Trust stock. Welch Group LLC bought a new position in Cross Timbers Royalty Trust (NYSE:CRT – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust at the end of the most recent quarter. 9.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a report on Monday, September 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Read Our Latest Stock Report on CRT

About Cross Timbers Royalty Trust

(Get Free Report)

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.

Further Reading

Insider Buying and Selling by Quarter for Cross Timbers Royalty Trust (NYSE:CRT)

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