Form 4: Eric L. Oliver Increases Stake in Cross Timbers Royalty

Reporting person Eric L. Oliver and SoftVest, LP acquired 23,386 units of Cross Timbers Royalty Trust at a weighted average price of $10.88.

Summary

• Eric L. Oliver, through SoftVest, LP, purchased 23,386 units of Cross Timbers Royalty Trust (CRT).
• The transaction occurred on May 26, 2026, at a weighted average price of $10.88 per unit.
• Following this acquisition, the reporting entities beneficially own 841,935 units of the trust.
• The purchase was executed in multiple transactions with prices ranging from $10.71 to $11.00.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive signal, as it reflects a significant capital commitment by a major shareholder, suggesting confidence in the trust's underlying asset value.

Positives

• Insider confidence is demonstrated by the significant purchase of 23,386 additional units by a 10% owner.
• The acquisition increases the total beneficial ownership to 841,935 units, signaling long-term commitment to the trust.

Negatives

• NA

Risks

• The trust's performance is tied to underlying oil and gas production, which is subject to commodity price volatility.
• As a royalty trust, distributions are variable and depend on the depletion of reserves and operational costs of the underlying properties.

Future Outlook

The filing does not provide specific forward-looking guidance regarding the trust's operations or future distributions.

Management Comments

• The reporting person undertakes to provide full information regarding the number of securities purchased at each separate price within the range of $10.71 to $11.00 upon request.

Industry Context

StockSavvy.ai notes that increased accumulation by 10% owners in royalty trusts often reflects a belief that the current market valuation of the underlying energy assets is undervalued relative to expected future cash flows.

Comparison to Industry Standards

• The activity is consistent with typical accumulation patterns seen in energy-focused royalty trusts like Sabine Royalty Trust or Permian Basin Royalty Trust, where insiders often increase positions during periods of market volatility.

Related Party Transactions

• The filing discloses that SoftVest, LP is the primary holder, with SoftVest GP I, LLC as the general partner and Eric L. Oliver as the managing member.

Stakeholder Impact

• Shareholders may view the increased ownership by a 10% holder as a stabilizing factor for the trust's unit price.

Next Steps

• Continued monitoring of SEC filings for further accumulation or divestment by SoftVest, LP.

Key Dates

Recommendation

While insider buying is a positive indicator, a Form 4 filing alone does not provide sufficient operational data to warrant a 'buy' rating; it suggests holding while monitoring for further accumulation or changes in distribution yields.

Keywords

Cross Timbers Royalty Trust, CRT, Insider Trading, SoftVest, Royalty Trust, Energy Investment