Eric Oliver Purchases 13,132 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Key Points

• Major shareholder Eric Oliver bought 13,132 Cross Timbers Royalty Trust shares at an average price of $9.95, investing approximately $130,663 and increasing his direct ownership to 938,092 shares.
• CRT shares recently traded at $10.18, while the trust reported quarterly EPS of $0.14. The stock has a market capitalization of about $61 million and a 12-month range of $7.07 to $11.10.
• Cross Timbers increased its monthly dividend to $0.0614 per share, equivalent to an indicated 7.2% yield, although its payout ratio stands at 135.19%. Analysts maintain a “Hold” consensus, with institutional investors owning 9.74% of the stock.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 13,132 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $9.95 per share, for a total transaction of $130,663.40. Following the completion of the transaction, the insider directly owned 938,092 shares of the company's stock, valued at $9,334,015.40. The trade was a 1.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 0.7%

NYSE:CRT traded up $0.07 during mid-day trading on Thursday, reaching $10.18. The company's stock had a trading volume of 22,003 shares, compared to its average volume of 30,089. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.10. The firm's fifty day moving average price is $9.69 and its two-hundred day moving average price is $9.82. The stock has a market cap of $61.05 million, a P/E ratio of 18.84 and a beta of -0.05.

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 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.0614 per share. This represents a c) dividend on an annualized basis and a yield of 7.2%. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.04. The ex-dividend date is Friday, July 31st. Cross Timbers Royalty Trust's payout ratio is currently 135.19%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cross Timbers Royalty Trust

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Cross Timbers Royalty Trust by 81.2% 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 purchasing an additional 1,612 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. O Shaughnessy Asset Management LLC lifted its stake in shares of 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 purchasing an additional 2,651 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust in the first quarter worth approximately $112,000. Finally, Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust in the first quarter worth approximately $157,000. Hedge funds and other institutional investors own 9.74% of the company's stock.

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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