Cross Timbers Royalty Trust (NYSE:CRT) Shares Cross Below 50 Day Moving Average - What's Next?

Key Points

• Cross Timbers Royalty Trust shares fell below their 50-day moving average during Thursday’s trading, hitting as low as $8.99 before last trading around $9.12.
• The trust raised its monthly dividend to $0.0442 per share, up from $0.03, giving it an annualized yield of about 5.8% and reflecting a very high payout ratio of 98.15%.
• Insider buying picked up recently, with major shareholder Eric L. Oliver purchasing 34,596 shares, while institutional ownership remains relatively modest at 9.74%.

Shares of Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.09 and traded as low as $8.99. Cross Timbers Royalty Trust shares last traded at $9.1240, with a volume of 4,533 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Cross Timbers Royalty Trust Price Performance

The business's 50-day simple moving average is $10.09 and its two-hundred day simple moving average is $9.53. The stock has a market cap of $54.74 million, a price-to-earnings ratio of 16.90 and a beta of -0.03.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%. The company had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.0442 dividend. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.03. Cross Timbers Royalty Trust's payout ratio is currently 98.15%.

Insider Buying and Selling

In other news, major shareholder Eric L. Oliver bought 34,596 shares of the company's stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $8.68 per share, for a total transaction of $300,293.28. Following the completion of the transaction, the insider owned 917,186 shares of the company's stock, valued at $7,961,174.48. This trade represents a 3.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought 172,486 shares of company stock valued at $1,708,659 in the last ninety days. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRT. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust during the 3rd quarter worth approximately $212,000. Welch Group LLC acquired a new position in Cross Timbers Royalty Trust in the 1st quarter valued at approximately $157,000. O Shaughnessy Asset Management LLC increased 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 valued at $112,000 after acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at $112,000. Finally, Bank of America Corp DE lifted its holdings 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 worth $36,000 after purchasing an additional 1,612 shares during the period. 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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