Key Points
- Major insider buy: Eric Oliver purchased 12,851 shares at $10.50 each on April 1 (about $134,935), increasing his stake to 710,744 shares (a 1.84% ownership rise) as disclosed in an SEC filing.
- Dividend cut: The trust declared a reduced monthly dividend of $0.0009 per share (ex-dividend March 31, payable April 14), implying an annualized yield of ~0.1% and a payout ratio near 78.95%.
- Market and sentiment: CRT is a small-cap energy trust (~$64.5M market cap) with a 52-week range of $7.07–$12.15 and an average analyst rating of "Sell", with Weiss Ratings reiterating a sell recommendation.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 12,851 shares of the stock in a transaction on Wednesday, April 1st. The shares were purchased at an average price of $10.50 per share, for a total transaction of $134,935.50. Following the transaction, the insider directly owned 710,744 shares in the company, valued at approximately $7,462,812. This trade represents a 1.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Performance
CRT opened at $10.75 on Friday. The stock has a fifty day moving average of $9.24 and a 200-day moving average of $8.42. The company has a market capitalization of $64.47 million, a P/E ratio of 14.14 and a beta of 0.03. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $12.15.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 77.77% and a return on equity of 198.98%. The business had revenue of $1.64 million for the quarter.
Cross Timbers Royalty Trust Cuts Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.0009 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.1%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is currently 78.95%.
Hedge Funds Weigh In On Cross Timbers Royalty Trust
Several hedge funds and other institutional investors have recently made changes to their positions in CRT. Bank of America Corp DE lifted its holdings in shares of Cross Timbers Royalty Trust by 81.3% during the 2nd 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 period. O Shaughnessy Asset Management LLC increased its stake in 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 acquiring an additional 2,651 shares during the last quarter. Scotia Capital Inc. bought a new position in Cross Timbers Royalty Trust in the second quarter valued at approximately $109,000. Finally, Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter valued at approximately $212,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Cross Timbers Royalty Trust in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".
Check Out Our Latest Stock Analysis on Cross Timbers Royalty Trust
About Cross Timbers Royalty Trust
(
Get Free Report)
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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