Eric Oliver Purchases 5,473 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 5,473 shares of the stock in a transaction dated Friday, September 4th. The stock was bought at an average price of $10.90 per share, for a total transaction of $59,655.70. Following the purchase, the insider owned 976,237 shares of the company’s stock, valued at $10,640,983.30. The trade was a 0.56% increase in their position. The transaction 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 sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 0.7%

Shares of CRT stock opened at $11.30 on Thursday. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.50. The firm’s fifty day simple moving average is $10.09 and its 200 day simple moving average is $10.11. The firm has a market capitalization of $67.82 million, a P/E ratio of 21.33 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.0679 per share. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is currently 152.83%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 data from MarketBeat, Cross Timbers Royalty Trust presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,612 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. O Shaughnessy Asset Management LLC lifted its holdings 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 worth $112,000 after acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust during the 1st quarter worth about $112,000. Finally, Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. 9.74% of the stock is owned by institutional investors.

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.