Key Points
- Major shareholder Eric Oliver bought 16,360 Cross Timbers Royalty Trust shares at an average price of $11.46, increasing his stake by 1.65% to 1,005,873 shares.
- CRT shares were trading at $13.04, up 8.7%, near their 12-month high of $13.15. The trust reported quarterly EPS of $0.14 and a 74.04% net margin.
- The trust raised its monthly dividend to $0.0679 per share, equating to an annualized yield of about 6.3%, although its dividend payout ratio remains elevated at 152.83%.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver purchased 16,360 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was bought at an average cost of $11.46 per share, with a total value of $187,485.60. Following the purchase, the insider owned 1,005,873 shares of the company's stock, valued at $11,527,304.58. This represents a 1.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Up 8.7%
CRT opened at $13.04 on Wednesday. The stock has a market capitalization of $78.21 million, a price-to-earnings ratio of 24.59 and a beta of -0.04. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $13.15. The company has a 50-day simple moving average of $10.32 and a 200 day simple moving average of $10.20.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released its earnings results 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 company also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.0679 per share. The ex-dividend date was Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 6.3%. This is a positive change from Cross Timbers Royalty Trust's previous monthly dividend of $0.06. Cross Timbers Royalty Trust's dividend payout ratio (DPR) is 152.83%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of Cross Timbers Royalty Trust from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".
Read Our Latest Analysis on Cross Timbers Royalty Trust
Institutional Trading of Cross Timbers Royalty Trust
A hedge fund recently bought a new position in Cross Timbers Royalty Trust stock. Ritholtz Wealth Management bought a new stake in Cross Timbers Royalty Trust (NYSE:CRT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,558 shares of the oil and gas company's stock, valued at approximately $112,000. Ritholtz Wealth Management owned about 0.18% of Cross Timbers Royalty Trust as of its most recent SEC filing. Institutional investors own 9.74% of the company's stock.
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.
Featured Stories
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].
