Key Points
- Major shareholder Eric Oliver purchased 5,473 CRT shares at $10.90 each, investing $59,655.70 and increasing his ownership by 0.56% to 976,237 shares.
- Cross Timbers Royalty Trust raised its monthly dividend to $0.0679 per share, implying a 7.3% annualized yield, although its payout ratio stands at 152.83%.
- CRT shares opened at $11.23, near their 52-week high of $11.43; the trust reported quarterly EPS of $0.14, while analysts maintain a consensus “Hold” rating.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver bought 5,473 shares of the business's stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $59,655.70. Following the transaction, the insider owned 976,237 shares in the company, valued at $10,640,983.30. This represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Performance
Shares of CRT stock opened at $11.23 on Wednesday. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.43. The stock has a 50 day simple moving average of $10.05 and a two-hundred day simple moving average of $10.10. The company has a market cap of $67.39 million, a P/E ratio of 21.19 and a beta of -0.04.
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 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 company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.0679 dividend. This represents a c) dividend on an annualized basis and a yield of 7.3%. This is a boost from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. The ex-dividend date of this dividend is Monday, August 31st. Cross Timbers Royalty Trust's payout ratio is 152.83%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".
Get Our Latest Analysis on CRT
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new stake in Cross Timbers Royalty Trust during the third quarter worth $212,000. Welch Group LLC bought a new position in Cross Timbers Royalty Trust during the 1st quarter valued at $157,000. Ritholtz Wealth Management purchased a new position in Cross Timbers Royalty Trust during the first quarter worth about $112,000. O Shaughnessy Asset Management LLC boosted its stake in shares of 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 worth $112,000 after buying an additional 2,651 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Cross Timbers Royalty Trust by 81.2% 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 purchasing an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 9.74% of the company's stock.
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.
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