Eric Oliver Acquires 3,087 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Key Points

• Major shareholder Eric Oliver bought 3,087 shares of Cross Timbers Royalty Trust at an average price of $10.12, increasing his position by 0.32% to 954,129 shares.
• CRT reported quarterly earnings of $0.14 per share and raised its monthly dividend to $0.0614, implying an annualized yield of about 7.0%; its payout ratio stands at 139.62%.
• Shares recently traded at $10.53, while analyst sentiment remains cautious: Weiss Ratings downgraded the trust’s rating, and the overall consensus is “Hold.”

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 3,087 shares of the company's stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $10.12 per share, for a total transaction of $31,240.44. Following the completion of the purchase, the insider directly owned 954,129 shares in the company, valued at $9,655,785.48. This trade represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

Shares of CRT stock traded up $0.16 during mid-day trading on Monday, hitting $10.53. The stock had a trading volume of 18,763 shares, compared to its average volume of 30,022. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The firm has a market cap of $63.18 million, a PE ratio of 19.87 and a beta of -0.05. The company's 50-day simple moving average is $9.67 and its 200-day simple moving average is $9.85.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.0614 per share. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date was Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.04. Cross Timbers Royalty Trust's payout ratio is presently 139.62%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRT. Bank of America Corp DE increased its position in Cross Timbers Royalty Trust by 81.2% during the 2nd 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 in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings 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 purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust in the 1st quarter valued at about $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust during the 1st quarter worth about $157,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 9.74% of the company's stock.

About Cross Timbers Royalty Trust

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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