Eric Oliver Purchases 6,142 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 6,142 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $10.94 per share, with a total value of $67,193.48. Following the acquisition, the insider directly owned 982,379 shares in the company, valued at approximately $10,747,226.26. The trade was a 0.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large 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 Trading Up 4.3%

Shares of CRT stock opened at $11.76 on Friday. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.90. The stock’s 50-day moving average price is $10.19 and its 200-day moving average price is $10.14. The stock has a market capitalization of $70.58 million, a price-to-earnings ratio of 22.20 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last announced its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 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

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.0679 dividend. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date is Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 152.83%.

Institutional Trading of Cross Timbers Royalty Trust

A number of large investors have recently made changes to their positions in CRT. Bank of America Corp DE increased its stake in Cross Timbers Royalty Trust by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,612 shares during the period. Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust in the 3rd quarter worth about $212,000. O Shaughnessy Asset Management LLC increased its position 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Cross Timbers Royalty Trust during the first quarter valued at approximately $112,000. Finally, Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $157,000. 9.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

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.