Key Points
- Major shareholder Eric Oliver bought 1,318 Cross Timbers Royalty Trust shares at an average price of $11.49, investing $15,143.82 and increasing his direct holdings to 1,007,191 shares.
- Cross Timbers declared a monthly dividend of $0.0643, equal to an annualized $0.77 and a 6.5% yield, but reduced it from the prior $0.0679 payment. The payout ratio stands at 145.28%.
- The stock opened at $11.95, with a market capitalization of $71.68 million, while analysts maintain a consensus “Hold” rating. The trust most recently reported quarterly EPS of $0.14.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) major shareholder Eric Oliver acquired 1,318 shares of the stock in a transaction on Wednesday, October 7th. The shares were purchased at an average price of $11.49 per share, for a total transaction of $15,143.82. Following the transaction, the insider directly owned 1,007,191 shares in the company, valued at approximately $11,572,624.59. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Cross Timbers Royalty Trust Stock Performance
Shares of Cross Timbers Royalty Trust stock opened at $11.95 on Friday. The firm has a 50-day moving average of $11.19 and a 200-day moving average of $10.52. The stock has a market cap of $71.68 million, a PE ratio of 22.54 and a beta of 0.01. Cross Timbers Royalty Trust has a 52-week low of $7.07 and a 52-week high of $13.15.
Cross Timbers Royalty Trust (NYSE:CRT - Get Free Report) last released 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 net margin of 74.04% and a return on equity of 147.68%.
Cross Timbers Royalty Trust Cuts Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.0643 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.77 dividend on an annualized basis and a yield of 6.5%. This is a decrease from Cross Timbers Royalty Trust's previous monthly dividend of $0.0679. Cross Timbers Royalty Trust's payout ratio is presently 145.28%.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Cross Timbers Royalty Trust stock. Welch Group LLC acquired a new position in shares of Cross Timbers Royalty Trust (NYSE:CRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,852 shares of the oil and gas company's stock, valued at approximately $157,000. Welch Group LLC owned 0.25% of Cross Timbers Royalty Trust as of its most recent SEC filing. 9.74% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cross Timbers Royalty Trust in a report on Monday, September 14th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock 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 grantor trust that owns royalty and net profits interests in certain oil and natural gas properties. The trust does not operate wells or provide exploration, drilling, or production services directly. Instead, it receives distributions based on production and sales from the underlying properties, after applicable production expenses and other deductions.
The trust's interests are associated primarily with oil and natural gas properties in Texas and Oklahoma.
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