Summary
SoftVest, L.P., identified as a ten percent owner of Cross Timbers Royalty Trust (NYSE: CRT), reported on a Form 4 filing with the Securities and Exchange Commission that it acquired 12,893 units of beneficial interest in CRT across two trading days - March 31 and April 1, 2026. The purchases were executed at prices around $10.50 per unit and totalled $135,376. After these transactions, SoftVest's direct holding stands at 710,744 units.
Transaction details
Per the filing, SoftVest purchased 42 units on March 31. On April 1, the firm completed multiple transactions that added 12,851 units, with execution prices ranging from $10.46 to $10.50. The aggregate cost of the two-day buying spree was $135,376, reflecting the $10.50 purchase price cited for the overall acquisition.
Ownership and related parties
The filing also identifies SoftVest GP I, LLC as the general partner of SoftVest, L.P., and Eric L. Oliver as the managing member of SoftVest GP I, LLC. It states that both SoftVest GP I, LLC and Mr. Oliver may be deemed to beneficially own the securities held by SoftVest, L.P. Mr. Oliver disclaims beneficial ownership except to the extent of his pecuniary interest.
Market context provided in the filing
CRT shares have risen 7.6% over the past week and 50% over the last six months, with the stock trading at $10.75 and a market capitalization reported at $64.68 million. An InvestingPro analysis cited in the filing and related disclosures indicates the stock appears overvalued when compared to its Fair Value estimate, placing CRT among the most overvalued names tracked by that platform. The notice also mentions that InvestingPro provides 10 additional exclusive tips for investors seeking further analysis of CRT.
Key points
- SoftVest, L.P. bought a total of 12,893 CRT units on March 31 and April 1, 2026, for $135,376.
- Following the purchases, SoftVest directly holds 710,744 units of CRT beneficial interest.
- CRT is trading at $10.75 with a market cap of $64.68 million and is flagged by InvestingPro as appearing overvalued versus its Fair Value estimate.
Risks and uncertainties
- Valuation Concerns - InvestingPro's analysis indicates CRT may be overvalued relative to its Fair Value estimate, introducing valuation risk for investors.
- Market Volatility - Recent share-price movement - a 7.6% rise in the past week and a 50% increase over six months - signals potential short-term volatility.
Conclusion
The Form 4 filing documents a modest-sized purchase by SoftVest that increases its direct stake in Cross Timbers Royalty Trust to 710,744 units. The transactions coincide with a notable run-up in CRT's share price and an external valuation assessment that classifies the stock as overvalued relative to its Fair Value estimate. The filing also clarifies the relationships among SoftVest, SoftVest GP I, LLC and Eric L. Oliver regarding potential beneficial ownership of the securities held by SoftVest, L.P.