Eric Oliver Buys 6,844 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Key Points

• Insider purchase: Major shareholder Eric Oliver bought 6,844 shares of Cross Timbers Royalty Trust on April 10 at an average price of $10.42 (total ~$71,314), raising his holdings to 732,787 shares — a 0.94% increase.
• Dividend update: The trust disclosed a monthly dividend of $0.0009 per share (ex-div and record date March 31) payable April 14, implying an annualized yield of about 0.1% and a payout ratio near 78.95%.
• Market and analyst view: Shares traded down about 1.8% to $10.44 (52-week range $7.07–$11.32) with a market cap of ~$62.6M, and Weiss Ratings has reiterated a "Sell" rating, leaving the consensus as "Sell."

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 6,844 shares of the stock in a transaction dated Friday, April 10th. The shares were bought at an average price of $10.42 per share, for a total transaction of $71,314.48. Following the transaction, the insider owned 732,787 shares in the company, valued at approximately $7,635,640.54. This represents a 0.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Down 1.8%

Shares of NYSE CRT traded down $0.19 during mid-day trading on Tuesday, reaching $10.44. 37,826 shares of the company were exchanged, compared to its average volume of 40,423. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.32. The company's 50 day moving average price is $9.52 and its 200 day moving average price is $8.58. The stock has a market capitalization of $62.64 million, a PE ratio of 13.74 and a beta of 0.03.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.The business had revenue of $1.64 million for the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.0009 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.1%. Cross Timbers Royalty Trust's dividend payout ratio is 78.95%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of large investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC lifted its position in Cross Timbers Royalty Trust by 23.3% in the fourth 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 during the last quarter. Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the third quarter worth approximately $212,000. Finally, Bank of America Corp DE increased its stake in shares of Cross Timbers Royalty Trust by 81.3% in 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 buying an additional 1,612 shares during the period. 9.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

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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