Cross Timbers Royalty Trust (NYSE:CRT) Shares Shorted: Short Interest Up 116.6% in September

Cross Timbers Royalty Trust (NYSE:CRT) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 25,987 shares, a growth of 116.6% from the September 15th total of 11,996 shares. Based on an average daily volume of 38,369 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Cross Timbers Royalty Trust Stock Performance

NYSE CRT traded up $0.26 during trading hours on Thursday, reaching $12.75. The stock had a trading volume of 4,165 shares, compared to its average volume of 29,077. The stock has a fifty day moving average of $11.31 and a 200 day moving average of $10.58. The stock has a market cap of $76.48 million, a P/E ratio of 24.05 and a beta of 0.01. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $13.15.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.0643 dividend. The ex-dividend date is Wednesday, September 30th. This is a decrease from Cross Timbers Royalty Trust’s previous monthly dividend of $0.0679. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.1%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 145.28%.

Insider Transactions at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver purchased 16,360 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was acquired at an average price of $11.46 per share, with a total value of $187,485.60. Following the completion of the acquisition, the insider owned 1,005,873 shares in the company, valued at approximately $11,527,304.58. This represents a 1.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 94,466 shares of company stock worth $1,024,100. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A hedge fund recently bought a new stake in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust (NYSE:CRT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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. Institutional investors and hedge funds own 9.74% of the company’s stock.

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.