Short Interest in Cross Timbers Royalty Trust (NYSE:CRT) Decreases By 52.3%

Cross Timbers Royalty Trust (NYSE:CRTGet Rating) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 7,200 shares, a decline of 52.3% from the April 15th total of 15,100 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 61,100 shares, the days-to-cover ratio is currently 0.1 days.

Shares of CRT traded up $0.41 during mid-day trading on Friday, reaching $15.85. The company’s stock had a trading volume of 49,414 shares, compared to its average volume of 74,049. The stock has a market cap of $95.10 million, a PE ratio of 15.54 and a beta of 0.54. Cross Timbers Royalty Trust has a 52 week low of $9.56 and a 52 week high of $17.52. The company’s fifty day moving average price is $14.50 and its two-hundred day moving average price is $13.63.

The company also recently declared a monthly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were given a dividend of $0.157 per share. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $1.88 annualized dividend and a yield of 11.89%. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.05. Cross Timbers Royalty Trust’s dividend payout ratio is presently 184.32%.

A number of institutional investors have recently made changes to their positions in CRT. NewEdge Advisors LLC bought a new position in shares of Cross Timbers Royalty Trust during the first quarter valued at about $780,000. Waddell & Associates LLC bought a new stake in shares of Cross Timbers Royalty Trust in the first quarter worth about $147,000. Essex Financial Services Inc. grew its stake in shares of Cross Timbers Royalty Trust by 23.6% in the third quarter. Essex Financial Services Inc. now owns 22,201 shares of the oil and gas company’s stock worth $312,000 after purchasing an additional 4,232 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Cross Timbers Royalty Trust by 42.0% in the second quarter. Wells Fargo & Company MN now owns 36,817 shares of the oil and gas company’s stock worth $435,000 after purchasing an additional 10,893 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Cross Timbers Royalty Trust by 309.0% in the first quarter. Morgan Stanley now owns 56,656 shares of the oil and gas company’s stock worth $479,000 after purchasing an additional 42,802 shares during the last quarter. 9.45% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com initiated coverage on shares of Cross Timbers Royalty Trust in a report on Thursday, March 31st. They issued a “hold” rating for the company.

About Cross Timbers Royalty Trust (Get Rating)

Cross Timbers Royalty Trust operates as an express trust in the United States. It holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico; and 75% net profits working interest in four properties in Texas and three properties in Oklahoma.

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