Key Points
- Eric Oliver acquired 28,861 shares at an average price of $10.44 on April 17 (totaling $301,308.84), raising his stake to 787,073 shares — a 3.81% increase — in a purchase disclosed to the SEC.
- The trust declared a monthly dividend of $0.0697 per share (ex-dividend April 30, payable May 14), implying a roughly 7.9% yield and a dividend payout ratio around 78.95%.
- CRT has a market cap of $63.57M, a P/E of 13.94 and a 52-week range of $7.07–$11.10; Weiss Ratings upgraded the stock from "sell" to "hold" and the consensus rating is "Hold".
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 4,032 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was bought at an average price of $10.38 per share, with a total value of $41,852.16. Following the completion of the purchase, the insider directly owned 791,105 shares in the company, valued at $8,211,669.90. This represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Up 0.3%
CRT stock opened at $10.60 on Wednesday. The firm has a 50 day moving average of $9.76 and a 200 day moving average of $8.71. The stock has a market capitalization of $63.57 million, a PE ratio of 13.94 and a beta of 0.03. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released its earnings results on Friday, March 27th. The oil and gas company reported $0.23 EPS for the quarter. The company had revenue of $1.64 million during the quarter. Cross Timbers Royalty Trust had a net margin of 77.77% and a return on equity of 198.98%.
Cross Timbers Royalty Trust Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be paid a $0.0697 dividend. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.00. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 7.9%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 78.95%.
Institutional Trading of Cross Timbers Royalty Trust
Several institutional investors and hedge funds have recently bought and sold shares of CRT. Bank of America Corp DE lifted its stake 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 acquiring an additional 1,612 shares during the period. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust during the 3rd quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC lifted its stake 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 acquiring an additional 2,651 shares during the period. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at approximately $112,000. Finally, Welch Group LLC acquired a new stake in Cross Timbers Royalty Trust during the 1st quarter valued at approximately $157,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Cross Timbers Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".
Read Our Latest Report 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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