Cross Timbers Royalty Trust (NYSE:CRT) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 13,800 shares, a growth of 133.9% from the September 15th total of 5,900 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 40,000 shares, the days-to-cover ratio is presently 0.3 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Cross Timbers Royalty Trust by 309.0% in the 1st quarter. Morgan Stanley now owns 56,656 shares of the oil and gas company’s stock valued at $479,000 after acquiring an additional 42,802 shares during the last quarter. Capital Analysts LLC bought a new stake in shares of Cross Timbers Royalty Trust in the 1st quarter worth about $352,000. Wells Fargo & Company MN increased its holdings in shares of Cross Timbers Royalty Trust by 42.0% in the 2nd quarter. Wells Fargo & Company MN now owns 36,817 shares of the oil and gas company’s stock worth $435,000 after buying an additional 10,893 shares during the last quarter. Essex Financial Services Inc. bought a new position in Cross Timbers Royalty Trust during the 2nd quarter valued at about $213,000. Finally, Virtu Financial LLC bought a new position in Cross Timbers Royalty Trust during the 1st quarter valued at about $88,000. Institutional investors own 11.49% of the company’s stock.
Separately, TheStreet raised shares of Cross Timbers Royalty Trust from a “c” rating to a “b-” rating in a report on Thursday, August 12th.
Cross Timbers Royalty Trust (NYSE:CRT) last issued its earnings results on Thursday, August 12th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a net margin of 78.26% and a return on equity of 80.37%. The company had revenue of $1.79 million for the quarter.
The company also recently announced a monthly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a dividend of $0.163 per share. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 13.04%.
Cross Timbers Royalty Trust Company Profile
Cross Timbers Royalty Trust is an express trust, which operates as a trustee of Southwest Bank. It is created to collect and distribute monthly net profits income to Unitholders. It has interest in certain royalty and overriding royalty interest properties in Texas, Oklahoma and New Mexico. The firm also has interest in certain working interest properties in Texas and Oklahoma.
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