Cross Timbers Stock Price, News & Analysis

Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), announced a cash distribution of $0.150335 per unit, payable on January 17, 2023, to unitholders as of December 30, 2022. The current month distribution reflects sales of 14,000 barrels of oil and 101,000 Mcf of gas, with average prices of $84.61 per barrel and $10.44 per Mcf. Additionally, the Trust reported $214,000 of excess cost recoveries, but cumulative excess costs remain at $1.8 million. A new trustee, Argent Trust Company, will replace the current trustee on December 30, 2022.

Cross Timbers Royalty Trust announced a cash distribution of $0.161024 per unit, to be paid on December 14, 2022, for unitholders of record by November 30, 2022. The current month saw sales of 12,000 barrels of oil and 93,000 Mcf of gas, with average prices of $85.47 for oil and $10.74 for gas. Compared to the prior month, oil sales remained the same, while gas sales increased slightly from 92,000 Mcf. However, excess costs rose by $67,000 in Texas and $377,000 in Oklahoma, totaling $2.0 million and $0.7 million respectively in cumulative excess costs after the distribution.

Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (CRT), has declared a cash distribution of $0.149149 per unit, payable on November 15, 2022. Unitholders of record on October 31, 2022 will receive this distribution. Current oil sales totaled 12,000 Bbls while gas sales were 92,000 Mcf, with average prices of $95.77 per barrel and $10.40 per Mcf, respectively. Notably, cumulative excess costs of $1.9 million for Texas and $0.4 million for Oklahoma were reported, affecting distributions.

Cross Timbers Royalty Trust (NYSE:CRT) has announced a cash distribution of $0.200401 per unit, scheduled for October 17, 2022, to unitholders of record as of September 30, 2022. The Trust reported 13,000 Bbls of oil and 107,000 Mcf of gas for this distribution, with average prices of $104.88 per Bbl and $9.55 per Mcf. Although $45,000 has been recovered in excess costs related to Texas properties, there are still $2.0 million in cumulative excess costs remaining.

Cross Timbers Royalty Trust (CRT) announced a cash distribution of $0.230619 per unit, set for September 15, 2022, with a record date of August 31, 2022. The statement detailed the underlying oil and gas sales for the current and prior months. Current month figures include 13,000 barrels of oil and 107,000 Mcf of gas sold, with average prices of $108.03 per barrel and $9.42 per Mcf. Notably, the trustee reported a recovery of $95,000 in excess costs, but $2.0 million in cumulative excess costs remains.

Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), declared a cash distribution of $0.191690 per unit, payable on August 12, 2022, to unitholders of record on July 29, 2022. Current month oil sales reached 15,000 Bbls with an average price of $93.55 per Bbl, while gas sales totaled 108,000 Mcf at $7.84 per Mcf. In contrast, the prior month saw oil sales of 14,000 Bbls priced at $87.02 and gas sales of 284,000 Mcf at $6.59. Cumulative excess costs of $2.1 million remain on Texas Working Interest net profits interests.

Cross Timbers Royalty Trust (NYSE:CRT) announced a cash distribution of $0.272187 per unit for June 2022, payable on July 15, 2022, to unitholders of record by June 30, 2022. This represents an increase from the prior month's distribution of $0.253846. The increase in gas sales volumes is attributed to non-operated properties in New Mexico, while excess costs rose by $29,000 primarily due to invoice timing, amounting to cumulative costs of $2.2 million post-distribution. For further information, visit www.crt-crosstimbers.com.

Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE: CRT), announced a cash distribution of $0.164036 per unit, payable on June 14, 2022. The distribution is for unitholders recorded by May 31, 2022. Current month distributions include 13,000 Bbls of oil and 115,000 Mcf of gas sold at average prices of $101.14 per Bbl and $7.36 per Mcf, respectively. Additionally, XTO Energy reported $260,000 in recovered excess costs, but no proceeds from Texas Working Interest net profits were included in this distribution, with outstanding excess costs of $2.1 million.

On May 5, 2022, Cross Timbers Royalty Trust (NYSE: CRT) announced the results from a special unitholder meeting held on May 4, 2022. Unitholders approved Argent Trust Company as the new trustee to replace Simmons Bank. However, proposed amendments to the Trust Agreement were not approved. The resignation of Simmons Bank will take effect once specific conditions outlined in the Trustee's notice are met, including necessary approvals from the Trust and related entities. Forward-looking statements indicate potential risks related to the trustee transition.