Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Purchases 7,134 Shares of Stock

Key Points

• Major shareholder Eric Oliver purchased 7,134 shares of Cross Timbers Royalty Trust at an average price of $11.29, increasing his position by 0.73% to 989,513 shares.
• Cross Timbers Royalty Trust raised its monthly dividend to $0.0679 per share, equivalent to a stated 7.2% annualized yield, although its payout ratio stands at 152.83%.
• The stock recently traded at $11.28, near its 12-month high of $11.50. Analysts maintain a consensus “Hold” rating, while institutional investors own 9.74% of the company.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 7,134 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were purchased at an average price of $11.29 per share, with a total value of $80,542.86. Following the purchase, the insider directly owned 989,513 shares in the company, valued at $11,171,601.77. This trade represents a 0.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Stock Down 0.2%

Cross Timbers Royalty Trust stock traded down $0.03 during midday trading on Thursday, reaching $11.28. The stock had a trading volume of 10,251 shares, compared to its average volume of 29,059. The firm has a market capitalization of $67.70 million, a PE ratio of 21.29 and a beta of -0.04. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.50. The firm's 50-day moving average price is $10.09 and its 200 day moving average price is $10.11.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.0679 per share. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. Cross Timbers Royalty Trust's payout ratio is presently 152.83%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded 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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in 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 purchasing an additional 1,612 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $112,000. O Shaughnessy Asset Management LLC increased 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 during the last quarter. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter valued at about $157,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter valued at about $212,000. Institutional investors own 9.74% of the company's stock.

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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