Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 28,861 Shares

Key Points

• Eric Oliver, a major shareholder, purchased 28,861 shares of Cross Timbers Royalty Trust at an average price of $10.44 on April 17, spending $301,308 and increasing his holdings to 787,073 shares (a 3.81% ownership increase).
• Cross Timbers announced a new monthly dividend of $0.0697 (ex-dividend April 30, payable May 14), representing a 7.9% yield and a payout ratio of 78.95%.
• The stock traded at $10.60 (up $0.04) with a market cap of about $63.6M and a PE of 13.94; Weiss Ratings recently upgraded CRT from "sell (d+)" to "hold (c-)" and the MarketBeat consensus is "Hold".

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 28,861 shares of the company's stock in a transaction on Friday, April 17th. The shares were purchased at an average price of $10.44 per share, with a total value of $301,308.84. Following the completion of the purchase, the insider directly owned 787,073 shares of the company's stock, valued at $8,217,042.12. The trade was a 3.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 0.3%

NYSE:CRT traded up $0.04 on Tuesday, hitting $10.60. 21,721 shares of the stock were exchanged, compared to its average volume of 39,901. The stock has a market cap of $63.57 million, a PE ratio of 13.94 and a beta of 0.03. The stock has a fifty day moving average of $9.72 and a 200-day moving average of $8.69. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10.

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

Cross Timbers Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be paid a $0.0697 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. This is an increase from Cross Timbers Royalty Trust's previous monthly dividend of $0.00. The ex-dividend date is Thursday, April 30th. Cross Timbers Royalty Trust's payout ratio is 78.95%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Cross Timbers Royalty Trust by 81.3% in the second 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 in the last quarter. O Shaughnessy Asset Management LLC grew its stake 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 valued at $112,000 after purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at approximately $112,000. Finally, Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust during the 3rd quarter valued at approximately $212,000. Institutional investors and hedge funds own 9.74% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of "Hold".

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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