Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys 2,289 Shares

Key Points

• Major shareholder Eric Oliver bought 2,289 shares of Cross Timbers Royalty Trust at an average price of $10.63, increasing his position by 0.24% to 969,974 shares.
• CRT shares rose 1.2% to $10.71, while the trust reported quarterly EPS of $0.14 and maintains strong profitability, including a 74.04% net margin.
• The trust increased its monthly dividend to $0.0679 per share, representing an annualized yield of approximately 7.6%; analysts maintain a consensus “Hold” rating.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 2,289 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average price of $10.63 per share, with a total value of $24,332.07. Following the completion of the purchase, the insider directly owned 969,974 shares of the company's stock, valued at approximately $10,310,823.62. This represents a 0.24% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Trading Up 1.2%

NYSE CRT traded up $0.13 on Thursday, hitting $10.71. 6,611 shares of the stock traded hands, compared to its average volume of 29,088. The stock has a 50-day moving average of $9.89 and a 200 day moving average of $10.03. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10. The company has a market capitalization of $64.26 million, a P/E ratio of 20.21 and a beta of -0.04.

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

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.0679 per share. This represents a c) annualized dividend and a yield of 7.6%. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. The ex-dividend date is Monday, August 31st. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 152.83%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cross Timbers Royalty Trust

Several hedge funds have recently bought and sold shares of CRT. Bank of America Corp DE boosted its stake 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 valued at $36,000 after purchasing an additional 1,612 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Cross Timbers Royalty Trust by 23.3% in the fourth 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 during the period. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $112,000. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $157,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Cross Timbers Royalty Trust during the third quarter valued at approximately $212,000. 9.74% of the stock is currently owned by institutional investors.

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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