Cross Timbers Royalty Trust declares a July distribution of $0.061397 per unit, a 39% jump from June
CRT sits 37% above its 52-week low of $7.07 on light trading volume (0.2× avg).
Summary
Cross Timbers Royalty Trust declared a July cash distribution of $0.061397 per unit, a 39% increase from June, supported by higher gas prices and volumes. The trust continues to face significant excess costs, but the distribution uptick and recent insider buying suggest some stabilization in near-term cash flows.
Key Events · Earnings and Guidance · CRT
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July Distribution Up 39%
A distribution of $0.061397 per unit was declared, up from $0.044186 in June, driven by higher gas prices ($4.84/Mcf vs $4.30) and a surge in gas volumes (75,000 Mcf vs 27,000).
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Oil Volumes Decline
Oil volumes fell to 6,000 Bbls from 9,000 in June, though the average realized oil price rose to $109.21/Bbl from $88.05.
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Excess Costs Remain Elevated
Texas Working Interest excess costs increased by $2,000 to $5.99 million cumulative; Oklahoma Working Interest recovered $54,000 but still has $794,000 in cumulative excess costs.
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Insider Accumulation Continues
10% owner Eric L. Oliver has purchased over $1.3 million in units over the past 90 days, signaling confidence despite distribution declines.
Analysis · CRT · Energy & Transportation
The July distribution of $0.061397 per unit marks a 39% increase from June's $0.044186, driven by a sharp rise in realized gas prices ($4.84/Mcf vs $4.30) and a surge in gas volumes (75,000 Mcf vs 27,000), though oil volumes fell. Excess costs remain a drag, with Texas Working Interest cumulative excess costs now at $5.99 million. The distribution is still well below historical levels, reflecting the trust's ongoing production and pricing challenges, but the month-over-month improvement is notable against a backdrop of insider accumulation.
At the time of this filing, CRT was trading at $9.72 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $58.3M. The 52-week trading range was $7.07 to $11.10. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.