Cross Timbers Royalty Trust (NYSE:CRT) Posts Earnings Results

Key Points

• Cross Timbers Royalty Trust reported quarterly EPS of $0.14, alongside a 145.81% return on equity and a 71.40% net margin.
• The trust raised its monthly dividend to $0.0614 per share, implying an annualized yield of about 7.3%; its payout ratio stands at 135.19%.
• CRT shares slipped 0.5% to $10.05, while analysts maintained a consensus “Hold” rating. Insiders and several institutional investors have recently increased their holdings.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) released its earnings results on Thursday. The oil and gas company reported $0.14 EPS for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.

Cross Timbers Royalty Trust Trading Down 0.5%

NYSE:CRT traded down $0.05 during trading hours on Thursday, reaching $10.05. 10,713 shares of the company traded hands, compared to its average volume of 30,016. The business's 50-day moving average price is $9.69 and its two-hundred day moving average price is $9.82. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $11.10. The stock has a market capitalization of $60.30 million, a P/E ratio of 18.61 and a beta of -0.05.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.0614 per share. The ex-dividend date is Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.04. This represents a c) dividend on an annualized basis and a yield of 7.3%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is presently 135.19%.

Insider Activity at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver purchased 3,727 shares of the stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $8.88 per share, with a total value of $33,095.76. Following the transaction, the insider directly owned 924,960 shares in the company, valued at $8,213,644.80. This trade represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 105,626 shares of company stock valued at $1,009,714 over the last 90 days. Corporate insiders own 9.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of 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 valued at $36,000 after buying an additional 1,612 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position 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 worth $112,000 after buying an additional 2,651 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. 9.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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, According to data from MarketBeat, Cross Timbers Royalty Trust presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source