Cross Timbers Royalty Trust (NYSE:CRT) Raises Dividend to $0.07 Per Share

Key Points

• Dividend raised: Cross Timbers declared a monthly dividend of $0.0697 per share (record/ex-dividend date April 30, payable May 14), implying an annualized yield of 7.9% and a 7,453.6% increase versus its prior monthly payout.
• Stock and financials: Shares traded up 1.2% to $10.61; the trust has a market cap of about $63.6M, a P/E of 13.95, and recently reported $0.23 EPS with a 77.8% net margin.
• Analyst view: Weiss Ratings upgraded CRT from "sell (d+)" to "hold (c-)," and the consensus rating reported by MarketBeat is currently "Hold."

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) declared a monthly dividend on Monday, April 20th. Shareholders of record on Thursday, April 30th will be paid a dividend of 0.0697 per share by the oil and gas company on Thursday, May 14th. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Thursday, April 30th. This is a 7,453.6% increase from Cross Timbers Royalty Trust's previous monthly dividend of $0.000923.

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 1.2%

Shares of CRT traded up $0.13 during midday trading on Monday, hitting $10.61. The stock had a trading volume of 61,537 shares, compared to its average volume of 40,137. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The business has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $8.67. The firm has a market cap of $63.63 million, a P/E ratio of 13.95 and a beta of 0.03.

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

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 report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average 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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