Key Points
- Major shareholder Eric Oliver bought 23,386 shares of Cross Timbers Royalty Trust at $10.88 each, spending about $254,440 and raising his stake by 2.86% to 841,935 shares.
- The stock was down 0.3% and last traded around $10.75, with a market cap of $64.5 million and a 12-month range of $7.07 to $11.10.
- Cross Timbers recently reported Q1 earnings of $0.08 per share and announced a monthly dividend of $0.0296 per share, implying an annualized yield of 3.3%.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 23,386 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $10.88 per share, with a total value of $254,439.68. Following the transaction, the insider owned 841,935 shares of the company's stock, valued at approximately $9,160,252.80. This represents a 2.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Cross Timbers Royalty Trust Stock Down 0.3%
Shares of Cross Timbers Royalty Trust stock opened at $10.75 on Friday. The firm has a market cap of $64.50 million, a price-to-earnings ratio of 19.91 and a beta of -0.02. The business has a 50-day moving average price of $10.56 and a 200-day moving average price of $9.28. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The oil and gas company reported $0.08 earnings per share for the quarter. The firm had revenue of $0.77 million during the quarter. Cross Timbers Royalty Trust had a return on equity of 145.81% and a net margin of 71.40%.
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 given a $0.0296 dividend. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 3.3%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is currently 155.56%.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Cross Timbers Royalty Trust currently has a consensus rating of "Hold".
Get Our Latest Report on Cross Timbers Royalty Trust
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Welch Group LLC purchased a new position in Cross Timbers Royalty Trust in the first quarter worth about $157,000. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust in the first quarter worth about $112,000. O Shaughnessy Asset Management LLC grew 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. Susquehanna International Group LLP purchased a new position in Cross Timbers Royalty Trust in the third quarter worth about $212,000. Finally, Bank of America Corp DE grew 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.
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