Cross Timbers Royalty Trust (NYSE:CRT) Announces Dividend Increase – $0.14 Per Share

Cross Timbers Royalty Trust (NYSE:CRT) declared a monthly dividend on Friday, April 19th, investing.com reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.1359 per share by the oil and gas company on Tuesday, May 14th. This represents a $1.63 annualized dividend and a yield of 11.38%. The ex-dividend date is Monday, April 29th. This is a boost from Cross Timbers Royalty Trust’s previous monthly dividend of $0.10.

Cross Timbers Royalty Trust has raised its dividend by an average of 35.2% annually over the last three years.

Cross Timbers Royalty Trust Stock Up 9.1 %

Shares of Cross Timbers Royalty Trust stock opened at $14.33 on Friday. The firm has a market cap of $85.98 million, a PE ratio of 7.42 and a beta of 0.59. Cross Timbers Royalty Trust has a 52 week low of $12.50 and a 52 week high of $26.10. The business’s fifty day simple moving average is $15.35 and its 200-day simple moving average is $17.31.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Beacon Pointe Advisors LLC purchased a new stake in shares of Cross Timbers Royalty Trust in the 2nd quarter valued at approximately $1,569,000. NewEdge Advisors LLC purchased a new stake in Cross Timbers Royalty Trust in the first quarter valued at approximately $780,000. Morgan Stanley raised its position in Cross Timbers Royalty Trust by 817.7% in the fourth quarter. Morgan Stanley now owns 20,327 shares of the oil and gas company’s stock valued at $517,000 after purchasing an additional 18,112 shares during the period. UBS Group AG lifted its stake in Cross Timbers Royalty Trust by 4.8% during the third quarter. UBS Group AG now owns 11,765 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 541 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in Cross Timbers Royalty Trust during the 3rd quarter worth about $216,000. Hedge funds and other institutional investors own 9.74% of the company’s stock.

About Cross Timbers Royalty Trust

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.