Insider Buying: Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Acquires 26,134 Shares of Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver bought 26,134 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were purchased at an average cost of $9.69 per share, for a total transaction of $253,238.46. Following the acquisition, the insider directly owned 626,225 shares in the company, valued at $6,068,120.25. This trade represents a 4.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Price Performance

NYSE CRT opened at $10.50 on Friday. The company’s 50 day simple moving average is $9.07 and its two-hundred day simple moving average is $8.35. Cross Timbers Royalty Trust has a 1 year low of $7.07 and a 1 year high of $13.31. The stock has a market capitalization of $62.97 million, a PE ratio of 13.99 and a beta of 0.10.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a $0.0009 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Tuesday, March 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 80.00%.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new position in shares of Cross Timbers Royalty Trust in the 3rd quarter worth $212,000. Scotia Capital Inc. purchased a new stake in shares of Cross Timbers Royalty Trust during the 2nd quarter valued at $109,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Cross Timbers Royalty Trust by 23.3% during 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 acquiring an additional 2,651 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cross Timbers Royalty Trust by 81.3% during the 2nd 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. 9.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Cross Timbers Royalty Trust Company Profile

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.