Cross Timbers Royalty Trust (NYSE:CRT) Stock: Insider Eric Oliver Acquires 4,817 Shares

Key Points

• Insider buying: Major shareholder Eric Oliver acquired 4,817 shares at an average $12.00, increasing his holdings to 1,018,049 shares valued at about $12.2 million.
• Stock and dividend: CRT shares rose 1.4% to $12.48, while the monthly dividend was reduced to $0.0643 per share, implying a 6.2% annualized yield.
• Investor sentiment: Cross Timbers Royalty Trust reported $0.14 in quarterly EPS, received a “Hold” consensus rating, and has limited institutional ownership at 9.74%.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 4,817 shares of the firm's stock in a transaction dated Monday, October 12th. The shares were acquired at an average price of $12.00 per share, with a total value of $57,804.00. Following the acquisition, the insider owned 1,018,049 shares in the company, valued at approximately $12,216,588. The trade was a 0.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 1.4%

Shares of Cross Timbers Royalty Trust stock traded up $0.17 during trading on Wednesday, reaching $12.48. The company's stock had a trading volume of 13,660 shares, compared to its average volume of 29,203. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $13.15. The company has a 50-day simple moving average of $11.27 and a two-hundred day simple moving average of $10.56. The company has a market cap of $74.89 million, a price-to-earnings ratio of 23.55 and a beta of 0.01.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released 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 Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.0643 per share. This represents a $0.77 annualized dividend and a dividend yield of 6.2%. This is a decrease from Cross Timbers Royalty Trust's previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. Cross Timbers Royalty Trust's dividend payout ratio is currently 145.28%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A hedge fund recently bought a new stake in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,558 shares of the oil and gas company's stock, valued at approximately $112,000. Ritholtz Wealth Management owned about 0.18% of Cross Timbers Royalty Trust at the end of the most recent quarter. 9.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Cross Timbers Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of "Hold".

Cross Timbers Royalty Trust Company Profile

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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