Eric Oliver Acquires 21,678 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 21,678 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were bought at an average price of $10.42 per share, for a total transaction of $225,884.76. Following the acquisition, the insider directly owned 754,465 shares of the company’s stock, valued at approximately $7,861,525.30. This trade represents a 2.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 0.1%

Shares of NYSE CRT opened at $10.50 on Friday. The firm’s 50-day moving average price is $9.68 and its 200-day moving average price is $8.65. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The firm has a market capitalization of $62.99 million, a P/E ratio of 13.81 and a beta of 0.03.

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

Cross Timbers Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.0009 per share. The ex-dividend date was Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.1%. Cross Timbers Royalty Trust’s dividend payout ratio is currently 78.95%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of Cross Timbers Royalty Trust by 81.3% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of 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 worth $112,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the third quarter worth about $212,000. 9.74% of the stock is owned by institutional investors.

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.