Key Points
- Major shareholder Eric Oliver bought 9,609 shares of Cross Timbers Royalty Trust at $10.44 each, investing $100,317.96 and increasing his stake by 1.01% to 963,738 shares.
- Cross Timbers reported quarterly EPS of $0.14, while its shares opened at $10.53 and traded within a 52-week range of $7.07 to $11.10.
- The trust increased its monthly dividend to $0.0614 per share, representing an annualized yield of about 7%; analysts maintain a “Hold” consensus, and institutional investors own 9.74% of the stock.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 3,087 shares of Cross Timbers Royalty Trust stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $10.12 per share, with a total value of $31,240.44. Following the purchase, the insider directly owned 954,129 shares of the company's stock, valued at approximately $9,655,785.48. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Cross Timbers Royalty Trust Stock Up 1.5%
NYSE CRT opened at $10.53 on Tuesday. Cross Timbers Royalty Trust has a 52 week low of $7.07 and a 52 week high of $11.10. The business has a 50 day moving average price of $9.67 and a 200-day moving average price of $9.86. The company has a market cap of $63.18 million, a price-to-earnings ratio of 19.87 and a beta of -0.05.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last issued its earnings results on Thursday, August 13th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 147.68% and a net margin of 74.04%.
Cross Timbers Royalty Trust Increases Dividend
The firm also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.0614 per share. The ex-dividend date was Friday, July 31st. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.04. This represents a c) annualized dividend and a yield of 7.0%. Cross Timbers Royalty Trust's dividend payout ratio is currently 139.62%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust has an average rating of "Hold".
Read Our Latest Research Report on Cross Timbers Royalty Trust
Institutional Trading of Cross Timbers Royalty Trust
Several institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the third quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC boosted its position in shares of Cross Timbers Royalty Trust by 23.3% during the fourth 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. Bank of America Corp DE grew its holdings in 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 buying an additional 1,612 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust during the first quarter worth $112,000. Finally, Welch Group LLC purchased a new stake in Cross Timbers Royalty Trust in the 1st quarter valued at $157,000. 9.74% of the stock is owned by hedge funds and other institutional investors.
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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