Short Interest in Cross Timbers Royalty Trust (NYSE:CRT) Drops By 37.6%

Key Points

• Short interest fell 37.6% to 9,976 shares as of August 31, representing 0.2% of CRT’s outstanding stock and a short-interest ratio of 0.5 days.
• Shares declined 4.0% to $12.55, while the company reported quarterly EPS of $0.14. Analysts maintain a consensus “Hold” rating.
• Cross Timbers Royalty Trust raised its monthly dividend to $0.0679, implying a 6.5% annualized yield; insiders also purchased 144,251 shares over the past 90 days.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 9,976 shares, a decline of 37.6% from the August 15th total of 15,994 shares. Based on an average trading volume of 20,472 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the company's stock are sold short.

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 note 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 currently has a consensus rating of "Hold".

Cross Timbers Royalty Trust Stock Down 4.0%

Shares of NYSE:CRT traded down $0.52 during trading on Wednesday, hitting $12.55. The stock had a trading volume of 8,436 shares, compared to its average volume of 29,470. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $13.15. The stock has a market capitalization of $75.30 million, a price-to-earnings ratio of 23.68 and a beta of -0.04. The stock has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $10.20.

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 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 declared a monthly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.0679 dividend. The ex-dividend date of this dividend was Monday, August 31st. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. This represents a c) dividend on an annualized basis and a yield of 6.5%. Cross Timbers Royalty Trust's dividend payout ratio is presently 152.83%.

Insider Buying and Selling at Cross Timbers Royalty Trust

In related news, major shareholder Eric L. Oliver acquired 16,360 shares of the business's stock in a transaction dated Friday, September 11th. The shares were purchased at an average price of $11.46 per share, for a total transaction of $187,485.60. Following the completion of the acquisition, the insider directly owned 1,005,873 shares in the company, valued at $11,527,304.58. The trade was a 1.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 144,251 shares of company stock worth $1,411,689 in the last 90 days. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management purchased a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,558 shares of the oil and gas company's stock, valued at approximately $112,000. Ritholtz Wealth Management owned approximately 0.18% of Cross Timbers Royalty Trust as of its most recent filing with the Securities and Exchange Commission (SEC). 9.74% of the stock is currently owned by institutional investors.

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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