Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys 6,041 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 6,041 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was acquired at an average price of $11.99 per share, with a total value of $72,431.59. Following the transaction, the insider owned 1,013,232 shares in the company, valued at approximately $12,148,651.68. The trade was a 0.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Performance

Cross Timbers Royalty Trust stock traded up $0.01 on Friday, reaching $11.95. The company’s stock had a trading volume of 7,474 shares, compared to its average volume of 29,435. The business’s fifty day moving average price is $11.15 and its 200 day moving average price is $10.51. The company has a market cap of $71.68 million, a price-to-earnings ratio of 22.54 and a beta of 0.01. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.15.

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

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.0643 dividend. This represents a $0.77 annualized dividend and a yield of 6.5%. The ex-dividend date is Wednesday, September 30th. This is a drop from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. Cross Timbers Royalty Trust’s dividend payout ratio is 145.28%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

An institutional investor recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned 0.25% of Cross Timbers Royalty Trust as of its most recent SEC filing. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cross Timbers Royalty Trust in a research report on Monday, September 14th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cross Timbers Royalty Trust has a consensus rating of “Hold”.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE:CRT) is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.