Cross Timbers Royalty Trust (NYSE:CRT) Declares $0.06 Monthly Dividend

Key Points

• Cross Timbers Royalty Trust declared a monthly dividend of $0.0643 per share, payable October 15 to shareholders of record September 30. The payment implies a 6.1% annualized yield.
• CRT shares fell 1.8% to $12.75 during Friday trading, while the trust reported quarterly EPS of $0.14, a 74.04% net margin, and a 147.68% return on equity.
• Insider buying continued as major shareholder Eric L. Oliver purchased 16,360 shares; insiders have acquired 144,251 shares worth about $1.41 million over the past 90 days.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) announced a monthly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.0643 per share by the oil and gas company on Thursday, October 15th. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

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 Stock Down 1.8%

Shares of CRT traded down $0.23 during midday trading on Friday, reaching $12.75. The company had a trading volume of 25,025 shares, compared to its average volume of 29,992. The firm has a 50 day simple moving average of $10.46 and a 200-day simple moving average of $10.25. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $13.15. The stock has a market cap of $76.48 million, a PE ratio of 24.05 and a beta of -0.04.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last posted its earnings results 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%.

Insiders Place Their Bets

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver acquired 16,360 shares of the company's stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $11.46 per share, for a total transaction of $187,485.60. Following the completion of the purchase, the insider owned 1,005,873 shares in the company, valued at $11,527,304.58. This trade represents a 1.65% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 144,251 shares of company stock worth $1,411,689. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,852 shares of the oil and gas company's stock, valued at approximately $157,000. Welch Group LLC owned 0.25% of Cross Timbers Royalty Trust at the end of the most recent reporting period. 9.74% of the stock is currently owned by institutional investors and hedge funds.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust NYSE: CRT is a grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate producing wells itself; instead, it receives distributions based on production and proceeds from the underlying properties after applicable expenses and deductions.

The trust's interests are associated primarily with oil and natural gas properties in Texas and Oklahoma, with historical interests also connected to properties in New Mexico.

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