Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Buys $134,935.50 in Stock

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver acquired 12,851 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was purchased at an average price of $10.50 per share, for a total transaction of $134,935.50. Following the completion of the transaction, the insider directly owned 710,744 shares in the company, valued at approximately $7,462,812. The trade was a 1.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Cross Timbers Royalty Trust Stock Down 0.0%

CRT stock opened at $10.75 on Friday. Cross Timbers Royalty Trust has a twelve month low of $7.07 and a twelve month high of $12.15. The company has a market cap of $64.47 million, a P/E ratio of 14.14 and a beta of 0.03. The business has a fifty day moving average of $9.29 and a 200-day moving average of $8.45.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its quarterly earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $1.64 million for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.0009 per share. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.1%. Cross Timbers Royalty Trust’s payout ratio is currently 78.95%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Cross Timbers Royalty Trust

Several hedge funds have recently added to or reduced their stakes in CRT. Bank of America Corp DE grew its position 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 buying an additional 1,612 shares during the period. Scotia Capital Inc. bought a new stake in Cross Timbers Royalty Trust in the second quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC increased its stake in Cross Timbers Royalty Trust by 23.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Cross Timbers Royalty Trust in the third quarter worth $212,000. Institutional investors and hedge funds own 9.74% of the company’s stock.

About Cross Timbers Royalty Trust

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.