Eric Oliver Purchases 21,678 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Key Points

• Major shareholder Eric Oliver purchased 21,678 shares of CRT on April 14 at an average price of $10.42 (≈$225,885), increasing his stake by 2.96% to 754,465 shares, per an SEC filing.
• Cross Timbers paid a minimal monthly dividend of $0.0009 (≈0.1% yield) on April 14, with a high payout ratio of about 78.95%.
• CRT trades near $10.55 with a 52‑week range of $7.07–$11.10 and a market cap of ~$63.3M; institutional ownership is ~9.7% and Weiss Ratings recently upgraded the stock from "sell" to "hold" (consensus: Hold).

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 21,678 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were purchased at an average cost of $10.42 per share, for a total transaction of $225,884.76. Following the completion of the purchase, the insider directly owned 754,465 shares in the company, valued at $7,861,525.30. The trade was a 2.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major 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 Trading Down 0.1%

Shares of NYSE CRT traded down $0.01 during midday trading on Thursday, reaching $10.55. 8,723 shares of the stock were exchanged, compared to its average volume of 39,681. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $11.10. The stock has a 50 day moving average price of $9.60 and a 200-day moving average price of $8.62. The company has a market capitalization of $63.29 million, a P/E ratio of 13.88 and a beta of 0.03.

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

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st were issued a $0.0009 dividend. The ex-dividend date was Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.1%. Cross Timbers Royalty Trust's payout ratio is 78.95%.

Institutional Trading of Cross Timbers Royalty Trust

Several hedge funds have recently bought and sold shares of CRT. Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC grew 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 grew its holdings in Cross Timbers Royalty Trust by 81.3% 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 in the last quarter. 9.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.