Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 12,950 Shares

Key Points

• Major shareholder Eric Oliver bought 12,950 shares of Cross Timbers Royalty Trust at an average price of $10.08, increasing his stake by 1.38% to 951,042 shares.
• CRT shares rose 0.7% to $10.18, while the trust reported quarterly earnings of $0.14 per share. The stock has traded between $7.07 and $11.10 over the past year.
• The trust increased its monthly dividend to $0.0614 per share, implying a 7.2% annualized yield; analysts maintain a consensus Hold rating.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 12,950 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $10.08 per share, with a total value of $130,536.00. Following the completion of the transaction, the insider owned 951,042 shares in the company, valued at approximately $9,586,503.36. This trade represents a 1.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 0.7%

Shares of NYSE:CRT traded up $0.07 during trading on Thursday, hitting $10.18. 22,003 shares of the stock were exchanged, compared to its average volume of 30,089. The company has a market cap of $61.05 million, a PE ratio of 18.84 and a beta of -0.05. The company has a fifty day moving average price of $9.69 and a two-hundred day moving average price of $9.82. 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 - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.0614 dividend. This is an increase from Cross Timbers Royalty Trust's previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, July 31st. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 135.19%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered 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, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Institutional Trading of Cross Timbers Royalty Trust

Large investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its position 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 purchasing an additional 2,651 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust in the 3rd quarter valued at approximately $212,000. Bank of America Corp DE grew its holdings in 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 buying an additional 1,612 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at $112,000. Finally, Welch Group LLC purchased a new position in Cross Timbers Royalty Trust during the first quarter worth $157,000. 9.74% of the stock is currently 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.

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