Cross Timbers Royalty Trust
CRT
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ROIC.AI
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- Cross Timbers Royalty Trust (NYSE:CRT) operates as an express trust that collects and distributes monthly net profits income derived from oil and gas royalty and working interests to its unitholders. The trust holds 90% net profits interests in certain producing and nonproducing royalty and overriding royalty interest properties located in Texas, Oklahoma, and New Mexico, including long-lived natural gas properties in the San Juan Basin of northwestern New Mexico; 75% net profits interests in working interests from four predominantly oil-producing properties in Texas and three in Oklahoma; and 11.11% nonparticipating royalty interests in nonproducing properties primarily in Texas and Oklahoma. These net profits interests, conveyed from underlying properties owned by XTO Energy Inc., constitute the trust's sole assets other than cash reserved for expenses and distributions, with income calculated by XTO Energy based on prior-month net proceeds and not burdened by production or development costs for the 90% interests. Founded on February 12, 1991, and headquartered at 3838 Oak Lawn Ave, Suite 1720, Dallas, Texas, the trust focuses on the oil and gas exploration and production sector, providing unitholders passive exposure to commodity price fluctuations and production volumes from mature assets without engaging in operations, exploration, or development activities. Units of beneficial interest trade on the New York Stock Exchange under the ticker CRT following an initial public offering in February 1992, targeting income-seeking investors in the energy royalty niche. In recent developments, the trust has maintained consistent monthly cash distributions, declaring payments such as $0.037 per unit in November 2025 payable December 12, 2025, and elevated amounts like $0.1567 per unit in March 2025 amid favorable commodity pricing, alongside quarterly net profits income of $1,293,766 for the period ended June 30, 2025, down from $1,564,871 in the prior-year quarter due to production declines and market conditions. No major acquisitions, partnerships, or strategic shifts have occurred in the last 1-2 years, with operations remaining stable under trustee Argent Trust Company and reliant on XTO Energy's management of underlying properties. The trust reported trailing twelve-month revenue of $5.62 million and earnings of $4.45 million as of late 2025, reflecting sensitivity to natural gas and oil price volatility.