Cross Timbers Royalty Trust (NYSE:CRT) Posts Earnings Results

Cross Timbers Royalty Trust (NYSE:CRT) released its quarterly earnings results on Friday. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, Zacks reports. Cross Timbers Royalty Trust had a net margin of 79.29% and a return on equity of 191.25%. The business had revenue of $1.64 million for the quarter.

Cross Timbers Royalty Trust Trading Up 5.1%

Cross Timbers Royalty Trust stock opened at $10.50 on Friday. The firm has a market capitalization of $62.97 million, a P/E ratio of 13.99 and a beta of 0.10. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.31. The stock’s fifty day simple moving average is $9.07 and its 200-day simple moving average is $8.35.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be issued a $0.0009 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. Cross Timbers Royalty Trust’s payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver bought 3,159 shares of the business’s stock in a transaction dated Thursday, March 26th. The shares were acquired at an average cost of $9.91 per share, with a total value of $31,305.69. Following the acquisition, the insider directly owned 629,384 shares of the company’s stock, valued at $6,237,195.44. The trade was a 0.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Cross Timbers Royalty Trust

Large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Cross Timbers Royalty Trust by 81.3% 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 purchasing an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC boosted its stake 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 buying an additional 2,651 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the third quarter worth about $212,000. Institutional investors and hedge funds 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.