Key Points
- Major shareholder Eric Oliver bought 3,727 shares of Cross Timbers Royalty Trust at $8.88 apiece, spending $33,095.76 and lifting his stake to 924,960 shares.
- The trust raised its monthly dividend to $0.0442 per share from $0.03, payable July 15 to shareholders of record on June 30, implying a 5.9% yield.
- Cross Timbers Royalty Trust recently reported Q1 earnings of $0.08 per share on $0.77 million in revenue, while analysts currently rate the stock a Hold.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 3,727 shares of Cross Timbers Royalty Trust stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $8.88 per share, for a total transaction of $33,095.76. Following the completion of the acquisition, the insider directly owned 924,960 shares of the company's stock, valued at approximately $8,213,644.80. The trade was a 0.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 Trading Up 0.6%
Shares of Cross Timbers Royalty Trust stock opened at $8.94 on Friday. The firm has a market cap of $53.64 million, a PE ratio of 16.56 and a beta of -0.04. The stock has a 50 day moving average of $10.38 and a 200 day moving average of $9.45. 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 Thursday, May 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $0.77 million for 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 Increases Dividend
The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.0442 dividend. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.03. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, June 30th. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is presently 66.67%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust currently has an average rating of "Hold".
Read Our Latest Research Report on Cross Timbers Royalty Trust
Institutional Trading of Cross Timbers Royalty Trust
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust in the third quarter worth approximately $212,000. Welch Group LLC bought a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. Ritholtz Wealth Management bought a new position in Cross Timbers Royalty Trust in the 1st quarter valued at $112,000. O Shaughnessy Asset Management LLC increased its stake 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 purchasing an additional 2,651 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Cross Timbers Royalty Trust by 81.2% during 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 purchasing an additional 1,612 shares during the last quarter. 9.74% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
