Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) major shareholder Eric Oliver purchased 6,142 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were purchased at an average price of $10.94 per share, for a total transaction of $67,193.48. Following the completion of the purchase, the insider owned 982,379 shares of the company’s stock, valued at approximately $10,747,226.26. This trade represents a 0.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Performance
NYSE:CRT traded down $0.03 during mid-day trading on Thursday, reaching $11.28. The stock had a trading volume of 10,251 shares, compared to its average volume of 29,059. The firm has a market capitalization of $67.70 million, a price-to-earnings ratio of 21.29 and a beta of -0.04. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.50. The business has a 50 day simple moving average of $10.09 and a 200 day simple moving average of $10.11.
Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) last released its 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 return on equity of 147.68% and a net margin of 74.04%.
Cross Timbers Royalty Trust Increases Dividend
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut 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, Based on data from MarketBeat.com, Cross Timbers Royalty Trust currently has an average rating of “Hold”.
Read Our Latest Stock Report on Cross Timbers Royalty Trust
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased 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 buying an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth approximately $112,000. Welch Group LLC purchased a new position in Cross Timbers Royalty Trust in the 1st quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the 3rd quarter valued at approximately $212,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.
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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