Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 18,902 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 18,902 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $10.87 per share, with a total value of $205,464.74. Following the completion of the acquisition, the insider directly owned 818,549 shares of the company’s stock, valued at $8,897,627.63. This represents a 2.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Down 1.2%

Shares of CRT opened at $10.63 on Friday. The stock has a 50 day moving average price of $10.48 and a 200 day moving average price of $9.18. The company has a market capitalization of $63.78 million, a price-to-earnings ratio of 19.69 and a beta of -0.02. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $0.77 million during the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.0296 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, May 29th. Cross Timbers Royalty Trust’s dividend payout ratio is 155.56%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of 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 acquiring an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Cross Timbers Royalty Trust by 23.3% in the fourth 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 during the period. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust in the third quarter valued at approximately $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.