Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases 5,473 Shares of Stock

Key Points

• Major shareholder Eric Oliver purchased 5,473 shares of Cross Timbers Royalty Trust at an average price of $10.90, increasing his stake to 976,237 shares valued at approximately $10.64 million.
• CRT shares rose 2.5% to $11.23, near the stock’s 12-month high of $11.43. The trust recently reported quarterly EPS of $0.14.
• Cross Timbers Royalty Trust raised its monthly dividend to $0.0679, implying an annualized yield of about 7.3%; analysts maintain a consensus Hold rating.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 5,473 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average cost of $10.90 per share, with a total value of $59,655.70. Following the completion of the acquisition, the insider directly owned 976,237 shares in the company, valued at approximately $10,640,983.30. This represents a 0.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, 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 transactions with the SEC.

Cross Timbers Royalty Trust Stock Up 2.5%

CRT traded up $0.27 during trading on Tuesday, hitting $11.23. The company's stock had a trading volume of 44,559 shares, compared to its average volume of 29,143. The firm's 50 day moving average price is $10.00 and its two-hundred day moving average price is $10.08. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.43. The stock has a market capitalization of $67.39 million, a price-to-earnings ratio of 21.19 and a beta of -0.04.

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 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 business also recently disclosed 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 represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date is Monday, August 31st. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. Cross Timbers Royalty Trust's dividend payout ratio is 152.83%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Cross Timbers Royalty Trust by 81.2% during the second 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 last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Cross Timbers Royalty Trust by 23.3% during 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management bought a new position in Cross Timbers Royalty Trust in the first quarter valued at about $112,000. Welch Group LLC bought a new position in Cross Timbers Royalty Trust in the first quarter valued at about $157,000. Finally, Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the third quarter worth about $212,000. 9.74% of the stock is owned by institutional investors and hedge funds.

Cross Timbers Royalty Trust Company Profile

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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