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

Cross Timbers Royalty Trust (NYSE:CRT – Get Rating) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 7,200 shares, a drop of 52.3% from the April 15th total of 15,100 shares. Based on an average daily volume of 61,100 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

A number of large investors have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in Cross Timbers Royalty Trust during the first quarter valued at approximately $780,000. Morgan Stanley grew its stake in Cross Timbers Royalty Trust by 309.0% during the first 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 in the last quarter. Wells Fargo & Company MN grew its stake in Cross Timbers Royalty Trust by 42.0% during 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 acquiring an additional 10,893 shares in the last quarter. Essex Financial Services Inc. grew its stake in Cross Timbers Royalty Trust by 23.6% during the third quarter. Essex Financial Services Inc. now owns 22,201 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 4,232 shares in the last quarter. Finally, Waddell & Associates LLC purchased a new position in Cross Timbers Royalty Trust during the first quarter valued at approximately $147,000. 9.45% of the stock is owned by institutional investors.

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

Shares of CRT traded up $0.41 during trading hours on Friday, hitting $15.85. The company’s stock had a trading volume of 49,414 shares, compared to its average volume of 74,049. The company has a market cap of $95.10 million, a price-to-earnings ratio of 15.54 and a beta of 0.54. The business has a 50 day simple moving average of $14.50 and a two-hundred day simple moving average of $13.63. Cross Timbers Royalty Trust has a 52-week low of $9.56 and a 52-week high of $17.52.

The company also recently disclosed a monthly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a dividend of $0.157 per share. The ex-dividend date 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 payout ratio is currently 184.32%.

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.

Further Reading