Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 4,032 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 4,032 shares of the business’s stock in a transaction on Monday, April 20th. The shares were acquired at an average cost of $10.38 per share, for a total transaction of $41,852.16. Following the transaction, the insider directly owned 791,105 shares in the company, valued at approximately $8,211,669.90. This trade represents a 0.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Performance

NYSE CRT opened at $10.60 on Wednesday. The company has a market capitalization of $63.57 million, a price-to-earnings ratio of 13.94 and a beta of 0.03. The company’s 50-day simple moving average is $9.76 and its two-hundred day simple moving average is $8.71. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.10.

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

Cross Timbers Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a $0.0697 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Thursday, April 30th. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. Cross Timbers Royalty Trust’s payout ratio is presently 78.95%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter worth approximately $157,000. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust in the 1st quarter worth approximately $112,000. O Shaughnessy Asset Management LLC grew 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 buying an additional 2,651 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter worth approximately $212,000. Finally, Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.3% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,612 shares in the last quarter. Hedge funds and other institutional investors own 9.74% of the company’s stock.

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.