Eric Oliver Acquires 9,609 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Key Points

• Major shareholder Eric Oliver bought 9,609 shares of Cross Timbers Royalty Trust at an average price of $10.44, investing approximately $100,318 and increasing his direct ownership to 963,738 shares.
• CRT shares rose 1.5% to $10.53, while the trust reported quarterly EPS of $0.14. It also increased its monthly dividend to $0.0614, representing an annualized yield of about 7%.
• Analyst sentiment remains cautious, with the sole covering analyst maintaining a Hold rating; institutional investors own 9.74% of the trust.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 9,609 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $10.44 per share, for a total transaction of $100,317.96. Following the purchase, the insider directly owned 963,738 shares of the company's stock, valued at $10,061,424.72. This represents a 1.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Up 1.5%

Shares of NYSE CRT traded up $0.16 on Monday, reaching $10.53. 18,763 shares of the company's stock traded hands, compared to its average volume of 30,022. The business's 50 day simple moving average is $9.67 and its two-hundred day simple moving average is $9.85. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10. The company has a market cap of $63.18 million, a price-to-earnings ratio of 19.87 and a beta of -0.05.

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

Cross Timbers Royalty Trust Increases Dividend

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

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several institutional investors and hedge funds have recently made changes to their positions in CRT. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust in the third quarter worth $212,000. Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the first quarter valued at $157,000. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust in the 1st quarter worth about $112,000. O Shaughnessy Asset Management LLC increased 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 worth $112,000 after buying an additional 2,651 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Cross Timbers Royalty Trust by 81.2% in 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 buying an additional 1,612 shares during the last quarter. Institutional investors own 9.74% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded 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, Based on data from MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of "Hold".

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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