Eric Oliver Purchases 3,947 Shares of Cross Timbers Royalty Trust (NYSE:CRT) Stock

Key Points

• Major shareholder Eric Oliver purchased 3,947 Cross Timbers Royalty Trust shares at an average price of $10.51, increasing his stake by 0.41% to 967,685 shares.
• CRT shares rose 1.2% to $10.71, while the trust reported quarterly EPS of $0.14 and maintains a market capitalization of approximately $64.3 million.
• The trust increased its monthly dividend to $0.0679, implying a 7.6% annualized yield; however, its payout ratio is elevated at 152.83%, and analysts maintain a consensus “Hold” rating.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 3,947 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of $10.51 per share, with a total value of $41,482.97. Following the completion of the transaction, the insider directly owned 967,685 shares of the company's stock, valued at approximately $10,170,369.35. The trade was a 0.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Up 1.2%

Shares of CRT stock traded up $0.13 during mid-day trading on Thursday, reaching $10.71. 6,611 shares of the stock traded hands, compared to its average volume of 29,088. The company has a market cap of $64.26 million, a price-to-earnings ratio of 20.21 and a beta of -0.04. The stock's fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $10.03. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released its quarterly earnings data 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 Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.0679 dividend. This is an increase from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a yield of 7.6%. Cross Timbers Royalty Trust's dividend payout ratio is currently 152.83%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Cross Timbers Royalty Trust by 81.2% during 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 acquiring an additional 1,612 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. O Shaughnessy Asset Management LLC boosted its position in shares of Cross Timbers Royalty Trust by 23.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company's stock valued at $112,000 after purchasing an additional 2,651 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the first quarter worth approximately $112,000. Finally, Welch Group LLC bought a new stake in Cross Timbers Royalty Trust in the first quarter worth approximately $157,000. Institutional investors and hedge funds own 9.74% of the company's stock.

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.

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