Eric Oliver Purchases 8,542 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 8,542 shares of Cross Timbers Royalty Trust stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $10.61 per share, with a total value of $90,630.62. Following the completion of the purchase, the insider directly owned 799,647 shares in the company, valued at $8,484,254.67. This trade represents a 1.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 0.5%

Shares of NYSE CRT opened at $10.85 on Friday. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The stock has a 50 day moving average of $10.34 and a 200-day moving average of $9.06. The company has a market capitalization of $65.07 million, a P/E ratio of 14.27 and a beta of -0.02.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 EPS for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a dividend of $0.0697 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was 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 110.53%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings 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 valued at $36,000 after acquiring an additional 1,612 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in 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 valued at $112,000 after acquiring an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Finally, Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

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.