Cross Timbers Royalty Trust (NYSE:CRT) Stock: Insider Eric Oliver Purchases 1,377 Shares

Key Points

• Insider buying: Major shareholder Eric Oliver purchased 1,377 shares at an average price of $12.23, increasing his direct ownership to 1,019,426 shares valued at approximately $12.47 million.
• Dividend reduction: Cross Timbers Royalty Trust lowered its monthly dividend to $0.0643 per share from $0.0679, equating to an annualized dividend of $0.77 and a 6.2% yield.
• Stock and analyst view: CRT recently traded at $12.48, near its 12-month high of $13.15, while the consensus analyst rating remains Hold.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 1,377 shares of the business's stock in a transaction on Tuesday, October 13th. The stock was purchased at an average price of $12.23 per share, for a total transaction of $16,840.71. Following the acquisition, the insider directly owned 1,019,426 shares in the company, valued at $12,467,579.98. This represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Trading Up 1.4%

NYSE:CRT traded up $0.17 on Wednesday, reaching $12.48. The stock had a trading volume of 13,660 shares, compared to its average volume of 29,203. The company has a 50-day moving average of $11.27 and a 200 day moving average of $10.56. The stock has a market cap of $74.89 million, a P/E ratio of 23.55 and a beta of 0.01. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $13.15.

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

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.0643 per share. This is a drop from Cross Timbers Royalty Trust's previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. This represents a $0.77 dividend on an annualized basis and a yield of 6.2%. Cross Timbers Royalty Trust's payout ratio is 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 stake in shares of Cross Timbers Royalty Trust (NYSE:CRT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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 reporting period. Institutional investors and hedge funds own 9.74% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus 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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