Cross Timbers Royalty Trust (NYSE:CRT) Issues Quarterly Earnings Results

by · The Cerbat Gem

Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) announced its earnings results on Thursday. The oil and gas company reported $0.08 earnings per share for the quarter, Zacks reports. Cross Timbers Royalty Trust had a return on equity of 144.14% and a net margin of 71.40%.The firm had revenue of $0.77 million during the quarter.

Cross Timbers Royalty Trust Stock Down 1.1%

Cross Timbers Royalty Trust stock traded down $0.12 during trading hours on Friday, hitting $10.77. The stock had a trading volume of 11,663 shares, compared to its average volume of 26,581. The company has a 50-day moving average of $10.37 and a two-hundred day moving average of $9.07. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $11.10. The company has a market cap of $64.62 million, a PE ratio of 19.94 and a beta of -0.02.

Cross Timbers Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.0697 per share. This is a positive change from Cross Timbers Royalty Trust’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date was Thursday, April 30th. Cross Timbers Royalty Trust’s dividend payout ratio is presently 110.53%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Cross Timbers Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust currently has a consensus rating of “Hold”.

Read Our Latest Stock Analysis on Cross Timbers Royalty Trust

Insider Buying and Selling at Cross Timbers Royalty Trust

In other news, major shareholder Eric L. Oliver acquired 8,542 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $10.61 per share, with a total value of $90,630.62. Following the acquisition, the insider owned 799,647 shares of the company’s stock, valued at $8,484,254.67. This trade represents a 1.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 131,089 shares of company stock worth $1,348,760. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Cross Timbers Royalty Trust

Several institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew 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 purchasing an additional 2,651 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Cross Timbers Royalty Trust during the 3rd quarter worth approximately $212,000. Finally, Bank of America Corp DE grew 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 purchasing an additional 1,612 shares in the last quarter. Institutional investors and hedge funds own 9.74% of the company’s stock.

Cross Timbers Royalty Trust Company Profile

(Get Free Report)

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.

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