Key Points
- Major shareholder Eric Oliver bought 8,542 shares of Cross Timbers Royalty Trust at $10.61 each, spending about $90,631 and increasing his holdings by 1.08% to 799,647 shares.
- The trust recently announced a monthly dividend of $0.0697 per share, payable May 14, which translates to an annualized yield of about 7.8% and marks a return from its prior $0.00 monthly dividend.
- Cross Timbers Royalty Trust reported Q1 earnings of $0.23 per share on $1.64 million in revenue, while analysts currently maintain a Hold outlook on the stock.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 8,542 shares of the business's stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $10.61 per share, with a total value of $90,630.62. Following the purchase, the insider directly owned 799,647 shares of the company's stock, valued at approximately $8,484,254.67. The trade was a 1.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Cross Timbers Royalty Trust Price Performance
Cross Timbers Royalty Trust stock opened at $10.79 on Thursday. The business has a 50 day simple moving average of $10.30 and a 200-day simple moving average of $9.03. The stock has a market capitalization of $64.71 million, a PE ratio of 14.19 and a beta of -0.02. Cross Timbers Royalty Trust has a 12 month low of $7.07 and a 12 month high of $11.10.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released its quarterly earnings data on Friday, March 27th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $1.64 million during 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 Increases Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be given a $0.0697 dividend. The ex-dividend date is Thursday, April 30th. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 7.8%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is currently 110.53%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".
Read Our Latest Analysis on CRT
Institutional Trading of Cross Timbers Royalty Trust
A number of large investors have recently made changes to their positions in the stock. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust during the first quarter valued at $157,000. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust in the 1st quarter worth about $112,000. O Shaughnessy Asset Management LLC boosted its stake in Cross Timbers Royalty Trust by 23.3% in the 4th 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. Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the 3rd quarter worth about $212,000. Finally, Bank of America Corp DE boosted its stake in Cross Timbers Royalty Trust by 81.3% in 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 buying an additional 1,612 shares during the last quarter. Institutional investors and hedge funds own 9.74% of the company's stock.
Cross Timbers Royalty Trust Company Profile
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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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