Cross Timbers Royalty Trust (NYSE:CRT) Shares Pass Above 50 Day Moving Average – Here’s Why

Cross Timbers Royalty Trust (NYSE:CRT) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.03 and traded as high as $8.21. Cross Timbers Royalty Trust shares last traded at $7.9550, with a volume of 28,069 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Cross Timbers Royalty Trust Stock Performance

The company has a market cap of $47.73 million, a P/E ratio of 10.61 and a beta of 0.12. The stock has a 50 day moving average price of $8.03 and a 200 day moving average price of $8.72.

Cross Timbers Royalty Trust (NYSE:CRT) last released its earnings results on Thursday, November 13th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 191.25% and a net margin of 79.29%.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.0369 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, November 28th. Cross Timbers Royalty Trust’s dividend payout ratio is 58.67%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of CRT. Susquehanna International Group LLP purchased a new stake in shares of Cross Timbers Royalty Trust during the third quarter valued at $212,000. Ritholtz Wealth Management acquired a new stake in Cross Timbers Royalty Trust during the 2nd quarter worth about $169,000. Scotia Capital Inc. purchased a new stake in Cross Timbers Royalty Trust during the second quarter valued at about $109,000. PNC Financial Services Group Inc. boosted its holdings in shares of Cross Timbers Royalty Trust by 2,500.0% in the first quarter. PNC Financial Services Group Inc. now owns 10,400 shares of the oil and gas company’s stock worth $137,000 after buying an additional 10,000 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Cross Timbers Royalty Trust by 81.3% 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 buying an additional 1,612 shares during the period. 9.74% of the stock is owned by institutional investors and hedge funds.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.