Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires $181,373.20 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 20,968 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $8.65 per share, with a total value of $181,373.20. Following the completion of the purchase, the insider directly owned 882,590 shares of the company’s stock, valued at $7,634,403.50. This represents a 2.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 0.6%

NYSE CRT opened at $8.94 on Friday. The firm’s fifty day moving average price is $10.38 and its two-hundred day moving average price is $9.45. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10. The firm has a market capitalization of $53.64 million, a P/E ratio of 16.56 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last announced 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 firm had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.0442 per share. The ex-dividend date is Tuesday, June 30th. 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 yield of 5.9%. Cross Timbers Royalty Trust’s dividend payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRT. Bank of America Corp DE grew its position 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. Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the 3rd quarter worth $212,000. O Shaughnessy Asset Management LLC increased its stake in 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 worth $112,000 after acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. Finally, Welch Group LLC bought a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter valued at $157,000. 9.74% of the stock is owned by institutional investors and hedge funds.

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.