Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 6,041 Shares of Stock

Key Points

• Major shareholder Eric Oliver bought 6,041 shares of Cross Timbers Royalty Trust at an average price of $11.99, increasing his position by 0.60% to 1,013,232 shares.
• Cross Timbers declared a monthly dividend of $0.0643, equivalent to $0.77 annually and a 6.5% yield. The payment is lower than the previous $0.0679 monthly dividend, and the payout ratio stands at 145.28%.
• CRT shares recently traded near $11.95, with a market capitalization of $71.68 million. The company reported $0.14 in quarterly EPS, while analysts maintain a consensus “Hold” rating.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 6,041 shares of Cross Timbers Royalty Trust stock in a transaction dated Thursday, October 8th. The shares were acquired at an average cost of $11.99 per share, with a total value of $72,431.59. Following the completion of the acquisition, the insider directly owned 1,013,232 shares in the company, valued at $12,148,651.68. This trade represents a 0.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 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 Price Performance

Shares of Cross Timbers Royalty Trust stock traded up $0.01 during trading on Friday, hitting $11.95. 7,474 shares of the company's stock traded hands, compared to its average volume of 29,435. The company has a market cap of $71.68 million, a PE ratio of 22.54 and a beta of 0.01. The firm's fifty day moving average price is $11.15 and its 200 day moving average price is $10.51. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.15.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last posted its quarterly 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 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.0643 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a drop from Cross Timbers Royalty Trust's previous monthly dividend of $0.0679. Cross Timbers Royalty Trust's payout ratio is currently 145.28%.

Institutional Trading of Cross Timbers Royalty Trust

An institutional investor recently bought a new position in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management acquired a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,558 shares of the oil and gas company's stock, valued at approximately $112,000. Ritholtz Wealth Management owned approximately 0.18% of Cross Timbers Royalty Trust at the end of the most recent quarter. Institutional investors own 9.74% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Cross Timbers Royalty Trust in a research report on Monday, September 14th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

About Cross Timbers Royalty Trust

Cross Timbers Royalty Trust NYSE: CRT is a grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.

The trust's interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.

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