Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases $134,935.50 in Stock

Key Points

• Major shareholder Eric Oliver purchased 12,851 shares at $10.50 each (totaling $134,935.50), raising his stake to 710,744 shares — a 1.84% increase — in a transaction disclosed to the SEC.
• The trust announced a monthly dividend of $0.0009 (record date March 31, payable April 14), implying an annualized yield of about 0.1% and a dividend payout ratio of 78.95%.
• Shares traded up 1.5% to $10.75; Cross Timbers Royalty Trust has a market cap of $64.47 million and a P/E of 14.14, and the stock carries an average analyst rating of Sell.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 12,851 shares of the stock in a transaction on Wednesday, April 1st. The shares were acquired at an average cost of $10.50 per share, for a total transaction of $134,935.50. Following the purchase, the insider owned 710,744 shares in the company, valued at $7,462,812. The trade was a 1.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 1.5%

Shares of Cross Timbers Royalty Trust stock traded up $0.16 during trading hours on Thursday, reaching $10.75. 30,062 shares of the company's stock were exchanged, compared to its average volume of 41,641. The business has a fifty day moving average of $9.20 and a two-hundred day moving average of $8.40. The company has a market capitalization of $64.47 million, a P/E ratio of 14.14 and a beta of 0.03. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $12.15.

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

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a $0.0009 dividend. This represents a c) dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 78.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRT. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust during the third quarter worth about $212,000. O Shaughnessy Asset Management LLC raised its stake in Cross Timbers Royalty Trust by 23.3% during the fourth 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. Scotia Capital Inc. acquired a new position in Cross Timbers Royalty Trust in the 2nd quarter valued at about $109,000. Finally, Bank of America Corp DE boosted its holdings in Cross Timbers Royalty Trust by 81.3% in 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 purchasing an additional 1,612 shares during the last quarter. Institutional investors and hedge funds own 9.74% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

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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