Eric Oliver Acquires 23,386 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 23,386 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $10.88 per share, with a total value of $254,439.68. Following the purchase, the insider owned 841,935 shares in the company, valued at approximately $9,160,252.80. This represents a 2.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT stock opened at $10.53 on Friday. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.10. The stock has a market cap of $63.15 million, a PE ratio of 19.49 and a beta of -0.02. The firm has a 50 day simple moving average of $10.57 and a two-hundred day simple moving average of $9.28.

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

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a $0.0296 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. Cross Timbers Royalty Trust’s dividend payout ratio is 155.56%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Cross Timbers Royalty Trust by 23.3% in 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. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. Finally, Bank of America Corp DE raised 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 valued at $36,000 after buying an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.