Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Buys 3,747 Shares

Key Points

• Major shareholder Eric Oliver bought 3,747 shares on April 15 at $10.48 each, increasing his direct stake to 758,212 shares (a ~0.5% increase) in a transaction disclosed to the SEC.
• Dividend sharply reduced: the trust paid a monthly dividend of $0.0009 per share (annualized yield ~0.1%) with a payout ratio of about 78.95%.
• Shares traded at $10.55 (down $0.01) with a market cap of $63.3M and a PE of 13.88, and Weiss Ratings recently moved the stock from "sell (d+)" to "hold (c-)" giving a consensus rating of "Hold".

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 3,747 shares of the stock in a transaction dated Wednesday, April 15th. The shares were purchased at an average price of $10.48 per share, with a total value of $39,268.56. Following the completion of the transaction, the insider directly owned 758,212 shares in the company, valued at approximately $7,946,061.76. The trade was a 0.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Down 0.1%

Shares of NYSE:CRT traded down $0.01 during trading on Thursday, reaching $10.55. The company's stock had a trading volume of 8,723 shares, compared to its average volume of 39,681. The stock has a market capitalization of $63.29 million, a PE ratio of 13.88 and a beta of 0.03. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The firm's 50 day simple moving average is $9.60 and its two-hundred day simple moving average is $8.62.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its quarterly earnings data on Friday, March 27th. The oil and gas company reported $0.23 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.The company had revenue of $1.64 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.0009 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Cross Timbers Royalty Trust's payout ratio is currently 78.95%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Institutional Trading of Cross Timbers Royalty Trust

Hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the third quarter worth $212,000. O Shaughnessy Asset Management LLC grew its position 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 purchasing an additional 2,651 shares during the period. Finally, Bank of America Corp DE grew its position in Cross Timbers Royalty Trust by 81.3% 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 during the period. 9.74% of the stock is owned by hedge funds and other institutional investors.

Cross Timbers Royalty Trust Company Profile

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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