Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $130,536.00 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 12,950 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $10.08 per share, with a total value of $130,536.00. Following the completion of the purchase, the insider directly owned 951,042 shares of the company’s stock, valued at approximately $9,586,503.36. This trade represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 2.7%

Shares of CRT stock opened at $10.35 on Friday. The firm’s 50 day moving average is $9.67 and its 200 day moving average is $9.84. The stock has a market capitalization of $62.07 million, a P/E ratio of 19.52 and a beta of -0.05. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT) last released 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 return on equity of 146.32% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.0614 dividend. The ex-dividend date was Friday, July 31st. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.04. This represents a c) annualized dividend and a yield of 7.1%. Cross Timbers Royalty Trust’s payout ratio is 137.74%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several institutional investors have recently modified their holdings of CRT. Bank of America Corp DE increased 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 valued at $36,000 after purchasing an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in 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 worth $112,000 after purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the first quarter worth about $112,000. Welch Group LLC bought a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the third quarter worth approximately $212,000. 9.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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