Key Points
- Major shareholder Eric Oliver acquired 6,142 CRT shares at an average price of $10.94, investing $67,193.48 and increasing his holdings by 0.63% to 982,379 shares.
- Cross Timbers Royalty Trust shares opened at $11.28, near their 52-week high of $11.50. The trust reported quarterly EPS of $0.14 and maintains high profitability, with a 74.04% net margin.
- The trust increased its monthly dividend to $0.0679 per share, implying a 7.2% annualized yield, though its payout ratio is elevated at 152.83%; analysts maintain a consensus “Hold” rating.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 6,142 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of $10.94 per share, with a total value of $67,193.48. Following the purchase, the insider owned 982,379 shares of the company's stock, valued at approximately $10,747,226.26. This trade represents a 0.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Cross Timbers Royalty Trust Stock Down 0.2%
Shares of CRT opened at $11.28 on Friday. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.50. The firm's 50 day moving average price is $10.14 and its 200 day moving average price is $10.13. The company has a market cap of $67.70 million, a P/E ratio of 21.29 and a beta of -0.04.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The oil and gas company reported $0.14 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 74.04% and a return on equity of 147.68%.
Cross Timbers Royalty Trust Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.0679 dividend. This represents a c) dividend on an annualized basis and a yield of 7.2%. 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 dividend payout ratio is 152.83%.
Institutional Trading of Cross Timbers Royalty Trust
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Welch Group LLC purchased a new position in shares of Cross Timbers Royalty Trust during the 1st quarter worth $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 grew its holdings 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 period. Susquehanna International Group LLP purchased a new position in shares of Cross Timbers Royalty Trust during the 3rd quarter worth about $212,000. Finally, Bank of America Corp DE boosted its position in shares of 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 acquiring an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 9.74% of the company's stock.
Analyst Ratings Changes
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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".
Read Our Latest Analysis on CRT
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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