Cross Timbers Royalty Trust (NYSE:CRT) Sees Large Increase in Short Interest

Key Points

• Cross Timbers Royalty Trust experienced a significant 77.2% growth in short interest in July, with a total of 14,000 shares reported as of July 31st.
• Institutional investors have shown increased interest, with notable stakes added by Bank of America and others, raising hedge fund ownership to 9.74% of the stock.
• The company declared a dividend of $0.0304 paid out on August 14th, with a payout ratio of 39.13% following its quarterly earnings report.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 14,000 shares, agrowthof77.2% from the July 15th total of 7,900 shares. Approximately0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 25,000 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 25,000 shares, the days-to-cover ratio is presently 0.6 days. Approximately0.2% of the shares of the stock are sold short.

Cross Timbers Royalty Trust Stock Up 1.0%

Shares of Cross Timbers Royalty Trust stock traded up $0.0850 on Friday, reaching $8.7850. The company's stock had a trading volume of 13,928 shares, compared to its average volume of 26,563. The company has a market capitalization of $52.71 million, a P/E ratio of 9.55 and a beta of 0.17. Cross Timbers Royalty Trust has a 52-week low of $8.46 and a 52-week high of $13.31. The stock has a 50-day moving average price of $9.40 and a 200-day moving average price of $10.16.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The oil and gas company reported $0.15 EPS for the quarter. The business had revenue of $1.31 million during the quarter. Cross Timbers Royalty Trust had a return on equity of 231.09% and a net margin of 84.24%.

Cross Timbers Royalty Trust Dividend Announcement

The firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.0134 dividend. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is presently 39.13%.

Institutional Trading of Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in CRT. Beacon Pointe Advisors LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the fourth quarter valued at approximately $618,000. Ritholtz Wealth Management purchased a new stake in shares of Cross Timbers Royalty Trust in the second quarter valued at approximately $169,000. Citadel Advisors LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the fourth quarter worth approximately $132,000. Scotia Capital Inc. purchased a new stake in shares of Cross Timbers Royalty Trust during the second quarter worth approximately $109,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Cross Timbers Royalty Trust by 2,500.0% during the first quarter. PNC Financial Services Group Inc. now owns 10,400 shares of the oil and gas company's stock worth $137,000 after purchasing an additional 10,000 shares in the last quarter. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.