Key Points
- Major shareholder Eric Oliver bought 18,902 shares of Cross Timbers Royalty Trust at $10.87 each, totaling about $205,465. After the purchase, he owned 818,549 shares valued at roughly $8.9 million.
- The trust recently reported quarterly earnings of $0.08 per share and declared a monthly dividend of $0.0296 per share, implying a 3.3% annualized yield. However, the dividend payout ratio is high at 155.56%.
- Analysts currently remain cautious on CRT, with consensus rating of Hold after Weiss Ratings slightly raised its view to “hold (c)” from “hold (c-).” Shares were last trading near $10.63, below the 1-year high of $11.10 but above the 1-year low of $7.07.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 18,902 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $10.87 per share, with a total value of $205,464.74. Following the completion of the acquisition, the insider owned 818,549 shares of the company's stock, valued at approximately $8,897,627.63. This trade represents a 2.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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
Shares of NYSE CRT opened at $10.63 on Friday. The stock has a fifty day moving average price of $10.48 and a 200 day moving average price of $9.18. Cross Timbers Royalty Trust has a 1-year low of $7.07 and a 1-year high of $11.10. The company has a market cap of $63.78 million, a PE ratio of 19.69 and a beta of -0.02.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.The firm had revenue of $0.77 million during the quarter.
Cross Timbers Royalty Trust Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a dividend of $0.0296 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 3.3%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is currently 155.56%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised Cross Timbers Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".
Get Our Latest Analysis on Cross Timbers Royalty Trust
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of CRT. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the third quarter worth $212,000. Welch Group LLC purchased a new position in Cross Timbers Royalty Trust in the first quarter worth $157,000. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust in the first quarter worth $112,000. O Shaughnessy Asset Management LLC raised its position 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 worth $112,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Cross Timbers Royalty Trust by 81.3% in 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 acquiring an additional 1,612 shares in the last quarter. Hedge funds and other institutional investors own 9.74% of the company's stock.
About Cross Timbers Royalty Trust
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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.
Further Reading
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