Cross Timbers Royalty Trust (NYSE:CRT) Raises Dividend to $0.27 Per Share

Cross Timbers Royalty Trust (NYSE:CRT – Get Rating) announced a monthly dividend on Friday, June 17th, Zacks reports. Stockholders of record on Thursday, June 30th will be paid a dividend of 0.272 per share by the oil and gas company on Friday, July 15th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 18.72%. The ex-dividend date of this dividend is Wednesday, June 29th. This is an increase from Cross Timbers Royalty Trust’s previous monthly dividend of $0.16.

Cross Timbers Royalty Trust has decreased its dividend by an average of 8.0% per year over the last three years and has raised its dividend every year for the last 1 years.

Shares of CRT stock opened at $17.44 on Friday. The company’s fifty day simple moving average is $16.53 and its 200-day simple moving average is $14.45. The firm has a market cap of $104.64 million, a PE ratio of 14.30 and a beta of 0.52. Cross Timbers Royalty Trust has a 12 month low of $9.73 and a 12 month high of $21.00.

Cross Timbers Royalty Trust (NYSE:CRT – Get Rating) last announced its quarterly earnings data on Friday, May 13th. The oil and gas company reported $0.28 EPS for the quarter. Cross Timbers Royalty Trust had a net margin of 91.09% and a return on equity of 223.79%. The business had revenue of $1.95 million for the quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG increased its holdings in shares of Cross Timbers Royalty Trust by 9.3% in the first quarter. UBS Group AG now owns 13,425 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 1,138 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Cross Timbers Royalty Trust by 54.9% in the first quarter. Bank of America Corp DE now owns 6,374 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 2,260 shares during the last quarter. Wells Fargo & Company MN increased its holdings 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 valued at $435,000 after purchasing an additional 10,893 shares during the last quarter. Morgan Stanley increased its holdings 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 valued at $479,000 after purchasing an additional 42,802 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Cross Timbers Royalty Trust in the first quarter valued at $780,000. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

Separately, StockNews.com assumed coverage on shares of Cross Timbers Royalty Trust in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

Cross Timbers Royalty Trust Company Profile (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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