Cross Timbers Royalty Trust (NYSE:CRT) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Cross Timbers Royalty Trust (NYSE:CRT)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $9.07 and traded as high as $10.63. Cross Timbers Royalty Trust shares last traded at $10.4950, with a volume of 110,792 shares trading hands.

Wall Street Analysts Forecast Growth

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

Cross Timbers Royalty Trust Stock Up 5.1%

The firm has a market capitalization of $62.97 million, a P/E ratio of 13.99 and a beta of 0.10. The stock has a fifty day moving average of $9.07 and a 200-day moving average of $8.35.

Cross Timbers Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders 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 yield of 0.1%. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is 80.00%.

Insider Buying and Selling

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver purchased 26,134 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were acquired at an average cost of $9.69 per share, with a total value of $253,238.46. Following the completion of the transaction, the insider owned 626,225 shares in the company, valued at $6,068,120.25. The trade was a 4.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in CRT. Bank of America Corp DE increased its holdings in Cross Timbers Royalty Trust by 81.3% in 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 purchasing an additional 1,612 shares in the last quarter. Scotia Capital Inc. acquired a new stake in shares of Cross Timbers Royalty Trust during the second quarter worth $109,000. O Shaughnessy Asset Management LLC grew its stake in Cross Timbers Royalty Trust by 23.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 2,651 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Cross Timbers Royalty Trust during the third quarter worth $212,000. 9.74% of the stock is owned by institutional investors.

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.