Key Points
- Eric Oliver purchased 6,844 shares on April 10 at an average price of $10.42 (a $71,314 transaction), increasing his direct holdings to 732,787 shares — a 0.94% ownership increase.
- The trust paid a reduced monthly dividend of $0.0009 per share (annualized yield ~0.1%) and has a high payout ratio of 78.95%, indicating limited current income potential from distributions.
- The stock trades near $10.44 with a market cap of about $62.6M and a PE of 13.7, and analysts (including Weiss Ratings) currently rate the shares a Sell.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 6,844 shares of Cross Timbers Royalty Trust stock in a transaction dated Friday, April 10th. The stock was purchased at an average cost of $10.42 per share, for a total transaction of $71,314.48. Following the completion of the purchase, the insider directly owned 732,787 shares in the company, valued at approximately $7,635,640.54. This represents a 0.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Performance
Cross Timbers Royalty Trust stock opened at $10.44 on Wednesday. The stock's 50 day moving average price is $9.55 and its 200 day moving average price is $8.60. The firm has a market capitalization of $62.64 million, a PE ratio of 13.74 and a beta of 0.03. Cross Timbers Royalty Trust has a one year low of $7.07 and a one year high of $11.32.
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. The firm had revenue of $1.64 million for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.
Cross Timbers Royalty Trust Cuts Dividend
The business also recently declared a monthly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st were given a dividend of $0.0009 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.1%. Cross Timbers Royalty Trust's payout ratio is 78.95%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the 3rd quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC boosted its position in 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 period. Finally, Bank of America Corp DE boosted its position in 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 valued at $36,000 after purchasing an additional 1,612 shares during the period. Institutional investors and hedge funds own 9.74% of the company's stock.
Analyst Ratings Changes
Separately, Weiss Ratings restated a "sell (d)" rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cross Timbers Royalty Trust currently has an average rating of "Sell".
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About Cross Timbers Royalty Trust
(
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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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