Cross Timbers Royalty Trust (NYSE:CRT) Share Price Breaks Above 50 Day Moving Average - Here's Why

Key Points

• Cross Timbers Royalty Trust shares broke above their 50-day moving average, reaching $12.96 before closing at $12.48, compared with a 50-day average of $10.82.
• Analysts maintained a cautious outlook, with Weiss Ratings reiterating a “Hold (C-)” rating; the stock’s average analyst rating is “Hold.”
• The trust declared a reduced monthly dividend of $0.0643, equivalent to an annualized $0.77 and a 6.2% yield, while insider purchases totaled 80,913 shares over the past three months.

Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $10.82 and traded as high as $12.96. Cross Timbers Royalty Trust shares last traded at $12.48, with a volume of 28,764 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Cross Timbers Royalty Trust in a report on Monday, September 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

Cross Timbers Royalty Trust Stock Performance

The business has a 50 day moving average of $10.82 and a 200-day moving average of $10.38. The company has a market capitalization of $74.88 million, a P/E ratio of 23.55 and a beta of -0.04.

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 Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.0643 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 6.2%. This is a drop from Cross Timbers Royalty Trust's previous monthly dividend of $0.0679. The ex-dividend date is Wednesday, September 30th. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 152.83%.

Insider Buying and Selling

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver bought 16,360 shares of the firm's stock in a transaction on Friday, September 11th. The shares were acquired at an average cost of $11.46 per share, for a total transaction of $187,485.60. Following the purchase, the insider directly owned 1,005,873 shares of the company's stock, valued at $11,527,304.58. The trade was a 1.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 80,913 shares of company stock worth $861,880 in the last three months. 9.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

An institutional investor recently bought a new stake in Cross Timbers Royalty Trust stock. Welch Group LLC bought a new stake in Cross Timbers Royalty Trust (NYSE:CRT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,852 shares of the oil and gas company's stock, valued at approximately $157,000. Welch Group LLC owned about 0.25% of Cross Timbers Royalty Trust as of its most recent SEC filing. 9.74% of the stock is owned by institutional investors.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust NYSE: CRT is a grantor trust that owns royalty and net profits interests in oil and natural gas properties. The trust does not operate producing wells itself; instead, it receives distributions based on production and proceeds from the underlying properties after applicable expenses and deductions.

The trust's interests are associated primarily with oil and natural gas properties in Texas and Oklahoma, with historical interests also connected to properties in New Mexico.

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