Cross Timbers Royalty Trust Dossier
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SectorEnergy IndustryOil & Gas Exploration & Production Beta (adjusted)0.31 Intrinsic Value Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet. Market Price $11.84Price as of 30 Sep 2026 Data confidenceNot applicable Market Cap $71M Enterprise Value $69.7M Shares Outstanding 6M diluted Last ex-dividend31 Jul 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Cross Timbers Royalty Trust (CRT) operates as a passive pass-through entity collecting net profits interests from legacy oil and gas properties in Texas, Oklahoma, and New Mexico. While the trust offers direct exposure to energy prices without operational or capital expenditure liabilities, its distributions are highly volatile and currently constrained by substantial cumulative excess costs on its working interest properties. Given the natural decline of the underlying assets and the lack of active management, CRT is best suited as a yield vehicle during periods of high commodity prices, but warrants a Hold recommendation at current valuation levels due to near-term distribution headwinds. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 19 Jun 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario A prolonged downturn in commodity prices combined with rising production expenses increases cumulative excess costs on working interest properties. This prevents any distribution contributions from working interests and severely reduces proceeds from royalty interests, leading to historically low monthly distributions and downward pressure on the unit price. Base CaseCentral scenario Under the base case, oil and gas prices remain relatively stable near current levels. Natural production declines of 6% to 8% annually are partially offset by periodic cost recoveries on working interest properties. Monthly distributions fluctuate but average a stable yield, making the trust a steady income generator for unitholders. Bull CaseUpside scenario The bull case for Cross Timbers Royalty Trust centers on its direct exposure to oil and natural gas price upside, allowing unitholders to benefit immediately from energy market rallies through increased monthly cash distributions. Additionally, the trust benefits from having XTO Energy (a subsidiary of ExxonMobil) as its operator, who has historically indicated plans to drill new wells on the underlying properties, providing potential production volume upside. Scenarios reflect our research view at the research date. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |