Key Points
- Major shareholder Eric Oliver bought 12,950 shares of Cross Timbers Royalty Trust at an average price of $10.08, investing $130,536 and increasing his ownership by 1.38% to 951,042 shares.
- Cross Timbers reported quarterly EPS of $0.14 and raised its monthly dividend to $0.0614, implying a roughly 7.2% annualized yield, although its payout ratio stands at 137.04%.
- The stock traded near $10.18, while analysts maintained a consensus “Hold” rating; institutional investors own 9.74% of the trust.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 12,950 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $10.08 per share, with a total value of $130,536.00. Following the transaction, the insider owned 951,042 shares of the company's stock, valued at approximately $9,586,503.36. This trade represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 0.7%
NYSE CRT opened at $10.18 on Friday. The business's 50-day moving average price is $9.68 and its 200 day moving average price is $9.83. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $11.10. The company has a market capitalization of $61.05 million, a PE ratio of 18.84 and a beta of -0.05.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The oil and gas company reported $0.14 EPS 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 company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.0614 dividend. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.04. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 137.04%.
Institutional Trading of Cross Timbers Royalty Trust
Several large investors have recently bought and sold shares of CRT. 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 in the last quarter. Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. O Shaughnessy Asset Management LLC boosted its position 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 valued at $112,000 after buying an additional 2,651 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Cross Timbers Royalty Trust during the first quarter valued at about $112,000. Finally, Welch Group LLC purchased a new stake in shares of Cross Timbers Royalty Trust during the first quarter worth about $157,000. Institutional investors and hedge funds own 9.74% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings cut Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Cross Timbers Royalty Trust has a consensus rating of "Hold".
Check Out Our Latest Report on Cross Timbers Royalty Trust
Cross Timbers Royalty Trust Company Profile
(
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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