Cross Timbers Royalty Trust (NYSE:CRT) Stock Passes Above 50 Day Moving Average – Here’s Why

Cross Timbers Royalty Trust (NYSE:CRT)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.25 and traded as high as $8.65. Cross Timbers Royalty Trust shares last traded at $8.5150, with a volume of 15,625 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Cross Timbers Royalty Trust Stock Performance

The company has a fifty day simple moving average of $8.25 and a 200 day simple moving average of $8.23. The stock has a market capitalization of $51.09 million, a price-to-earnings ratio of 11.35 and a beta of 0.12.

Cross Timbers Royalty Trust (NYSE:CRT) last issued its quarterly earnings results on Thursday, November 13th. The oil and gas company reported $0.08 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 191.25% and a net margin of 79.29%.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.0329 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 30th. Cross Timbers Royalty Trust’s dividend payout ratio is currently 53.33%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Cross Timbers Royalty Trust by 81.3% during 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 acquiring an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Cross Timbers Royalty Trust by 23.3% during 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 purchasing an additional 2,651 shares in the last quarter. Scotia Capital Inc. acquired a new stake in Cross Timbers Royalty Trust during the second quarter worth approximately $109,000. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the second quarter worth approximately $169,000. Finally, Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust in the third quarter worth approximately $212,000. 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 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.