Eric Oliver Buys 34,596 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 34,596 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $8.68 per share, with a total value of $300,293.28. Following the transaction, the insider directly owned 917,186 shares in the company, valued at $7,961,174.48. This trade represents a 3.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 2.0%

Shares of CRT opened at $8.85 on Friday. The business’s 50-day moving average price is $10.41 and its 200 day moving average price is $9.45. The stock has a market capitalization of $53.07 million, a P/E ratio of 16.38 and a beta of -0.04. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings data 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 company had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.0442 per share. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Tuesday, June 30th. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the first quarter worth $157,000. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust in the first quarter valued at about $112,000. O Shaughnessy Asset Management LLC grew its stake in Cross Timbers Royalty Trust by 23.3% in the fourth 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. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust in the 3rd quarter worth about $212,000. Finally, Bank of America Corp DE raised its stake in shares of Cross Timbers Royalty Trust by 81.2% 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 purchasing an additional 1,612 shares in the last quarter. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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