Cross Timbers Royalty Trust (NYSE:CRT) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Cross Timbers Royalty Trust (NYSE:CRT) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.29 and traded as high as $8.75. Cross Timbers Royalty Trust shares last traded at $8.73, with a volume of 15,939 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Cross Timbers Royalty Trust presently has an average rating of “Sell”.

Cross Timbers Royalty Trust Price Performance

The company has a market capitalization of $52.38 million, a P/E ratio of 11.64 and a beta of 0.13. The firm’s 50-day moving average is $8.29 and its 200-day moving average is $8.30.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings data on Thursday, November 13th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 79.29% and a return on equity of 191.25%.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.0329 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. Cross Timbers Royalty Trust’s dividend payout ratio is 184.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in 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 valued at $36,000 after acquiring an additional 1,612 shares during the period. Scotia Capital Inc. purchased a new stake in shares of Cross Timbers Royalty Trust during the second quarter worth about $109,000. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the 2nd quarter valued at approximately $169,000. Finally, Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the 3rd quarter worth approximately $212,000. Institutional investors own 9.74% of the company’s stock.

Cross Timbers Royalty Trust Company Profile

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.