Eric Oliver Buys 16,360 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 16,360 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average cost of $11.46 per share, for a total transaction of $187,485.60. Following the transaction, the insider owned 1,005,873 shares of the company’s stock, valued at $11,527,304.58. This represents a 1.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Down 3.5%

NYSE CRT opened at $12.61 on Thursday. The company has a 50 day moving average price of $10.39 and a 200 day moving average price of $10.22. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $13.15. The firm has a market cap of $75.64 million, a PE ratio of 23.79 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT) last issued 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 147.68% and a net margin of 74.04%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.0679 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.06. The ex-dividend date was Monday, August 31st. Cross Timbers Royalty Trust’s dividend payout ratio is currently 152.83%.

Analysts Set New Price Targets

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

Institutional Trading of Cross Timbers Royalty Trust

A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,852 shares of the oil and gas company’s stock, valued at approximately $157,000. Welch Group LLC owned 0.25% of Cross Timbers Royalty Trust as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 9.74% of the company’s stock.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE: CRT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate producing wells itself; instead, it receives distributions based on production and proceeds from the underlying properties after applicable expenses and deductions.

The trust’s interests are associated primarily with oil and natural gas properties in Texas and Oklahoma, with historical interests also connected to properties in New Mexico.