Added to YB: 2026-09-18
Pitch date: 2026-09-15
CRT [bullish]
Cross Timbers Royalty Trust
Author Info
Divergent Capital is a self-taught value investor in the tradition of Graham, Buffett and Munger. Sign up for the newsletter.
Company Info
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.
Market Cap
$78.4M
Pitch Price
N/A
Price Target
N/A
Dividend
4.38%
EV/EBITDA
N/A
P/E
24.67
EV/Sales
17.80
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
Cross Timbers Royalty Trust ($CRT): An O&G Croupier with Dormant Asset and Catalyst Optionality.
CRT: Cross Timbers Royalty Trust’s capital-light 90% NPIs may contain underappreciated development optionality: at $11.99 per unit, modeled PDP value is $5.12, leaving $6.86 for all unbooked potential versus ~$5.80 from one Sand Hills scenario alone. Recent horizontal activity, Sand Hills’ adjacency to Waddell Ranch and SoftVest’s 16.5% stake add upside, but permits may not become CRT-attributable production and the restructuring thesis remains speculative.
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