Key Points
- Eric Oliver, a major shareholder, purchased 4,585 shares on April 7 at an average price of $10.49 (total $48,096.65), increasing his holdings to 715,910 shares — a 0.64% stake increase valued at about $7.51 million.
- The trust declared a monthly dividend of $0.0009 per share (ex-dividend March 31), an annualized yield of roughly 0.1% and a payout ratio of about 78.95%.
- Shares opened at $10.58 (down 1.6%), the company has a market cap of $63.45 million and a P/E of 13.91, and analysts hold a consensus "Sell" rating (Weiss Ratings reiterated a sell).
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 4,585 shares of the firm's stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $10.49 per share, with a total value of $48,096.65. Following the transaction, the insider directly owned 715,910 shares of the company's stock, valued at approximately $7,509,895.90. This trade represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Down 1.6%
Shares of Cross Timbers Royalty Trust stock opened at $10.58 on Friday. Cross Timbers Royalty Trust has a 12-month low of $7.07 and a 12-month high of $11.46. The stock has a market capitalization of $63.45 million, a P/E ratio of 13.91 and a beta of 0.03. The stock has a 50 day moving average price of $9.44 and a two-hundred day moving average price of $8.52.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued 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 return on equity of 198.98% and a net margin of 77.77%.The company had revenue of $1.64 million during the quarter.
Cross Timbers Royalty Trust Cuts Dividend
The firm also recently declared 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 is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. Cross Timbers Royalty Trust's payout ratio is 78.95%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cross Timbers Royalty Trust currently has a consensus rating of "Sell".
Get Our Latest Analysis on CRT
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new position in shares of Cross Timbers Royalty Trust during the third quarter worth approximately $212,000. O Shaughnessy Asset Management LLC lifted its holdings 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 worth $112,000 after buying an additional 2,651 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cross Timbers Royalty Trust by 81.3% 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 buying an additional 1,612 shares during the last quarter. 9.74% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
