Cross Timbers Royalty Trust (NYSE:CRT) Plans Dividend Increase - $0.07 Per Share

Key Points

• Cross Timbers Royalty Trust will raise its monthly dividend to $0.0679 per share, a 10.6% increase from $0.06 and an annualized yield of approximately 7.5%. Shareholders of record August 31 will receive payment September 15.
• CRT shares rose 3.8% to $10.90, near the upper end of their 12-month range of $7.07 to $11.10. The trust reported quarterly EPS of $0.14, with a 74.04% net margin and 147.68% return on equity.
• Insiders and institutional investors have been adding to their positions: insiders bought 125,502 shares over the past quarter, while institutional investors and hedge funds own 9.74% of the stock.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) announced a monthly dividend on Friday, August 21st. Stockholders of record on Monday, August 31st will be paid a dividend of 0.0679 per share by the oil and gas company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, August 31st. This is a 10.6% increase from Cross Timbers Royalty Trust's previous monthly dividend of $0.06.

Cross Timbers Royalty Trust has decreased its dividend payment by an average of 0.0%per year over the last three years.

Cross Timbers Royalty Trust Trading Up 3.8%

Shares of NYSE:CRT traded up $0.40 during trading on Friday, hitting $10.90. 22,900 shares of the stock were exchanged, compared to its average volume of 29,759. The company has a fifty day moving average price of $9.65 and a two-hundred day moving average price of $9.90. The company has a market cap of $65.40 million, a PE ratio of 20.57 and a beta of -0.05. 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 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Insider Activity at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver acquired 9,609 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $10.44 per share, for a total transaction of $100,317.96. Following the transaction, the insider owned 963,738 shares in the company, valued at $10,061,424.72. This trade represents a 1.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 125,502 shares of company stock worth $1,197,007 over the last quarter. 9.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Cross Timbers Royalty Trust by 81.2% during the second quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company's stock worth $36,000 after buying an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Cross Timbers Royalty Trust by 23.3% in 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 buying an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the first quarter worth about $112,000. Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter worth approximately $157,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 9.74% of the company's stock.

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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