Cross Timbers Royalty Trust (NYSE:CRT) Stock Passes Below 50-Day Moving Average – Here’s Why

by · The Cerbat Gem

Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.09 and traded as low as $8.99. Cross Timbers Royalty Trust shares last traded at $9.1240, with a volume of 4,533 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Cross Timbers Royalty Trust from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Cross Timbers Royalty Trust has an average rating of “Hold”.

Get Our Latest Research Report on Cross Timbers Royalty Trust

Cross Timbers Royalty Trust Trading Up 0.9%

The business has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $9.53. The company has a market cap of $55.21 million, a PE ratio of 17.04 and a beta of -0.03.

Cross Timbers Royalty Trust (NYSE:CRT – Get Free Report) last issued its earnings results on Thursday, May 14th. The oil and gas company reported $0.08 EPS for the quarter. The business had revenue of $0.77 million during the quarter. Cross Timbers Royalty Trust had a net margin of 71.40% and a return on equity of 145.81%.

Cross Timbers Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.0442 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 5.8%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.03. Cross Timbers Royalty Trust’s dividend payout ratio is currently 98.15%.

Insider Buying and Selling

In other Cross Timbers Royalty Trust news, major shareholder Eric L. Oliver bought 3,727 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of $8.88 per share, with a total value of $33,095.76. Following the purchase, the insider directly owned 924,960 shares of the company’s stock, valued at $8,213,644.80. This trade represents a 0.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 172,486 shares of company stock valued at $1,708,659. 9.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cross Timbers Royalty Trust

Large investors have recently made changes to their positions in the stock. Welch Group LLC acquired a new stake in shares of Cross Timbers Royalty Trust in the first quarter valued at approximately $157,000. Ritholtz Wealth Management acquired a new position in Cross Timbers Royalty Trust during the first quarter worth $112,000. O Shaughnessy Asset Management LLC grew its holdings in Cross Timbers Royalty Trust by 23.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 2,651 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Cross Timbers Royalty Trust in the 3rd quarter valued at $212,000. Finally, Bank of America Corp DE increased its stake in shares of Cross Timbers Royalty Trust by 81.2% 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 acquiring an additional 1,612 shares during the last quarter. 9.74% of the stock is currently owned by hedge funds and other institutional investors.

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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