Russell Investments Group Ltd. raised its stake in shares of Kimbell Royalty (NYSE:KRP – Free Report) by 476.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,229 shares of the energy company’s stock after purchasing an additional 33,254 shares during the period. Russell Investments Group Ltd.’s holdings in Kimbell Royalty were worth $585,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of KRP. Hilltop National Bank bought a new stake in shares of Kimbell Royalty during the 2nd quarter worth $44,000. Ascentis Independent Advisors acquired a new position in Kimbell Royalty during the 1st quarter worth $60,000. EverSource Wealth Advisors LLC boosted its holdings in Kimbell Royalty by 29.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock valued at $64,000 after acquiring an additional 1,250 shares during the period. Marex Group plc bought a new stake in Kimbell Royalty during the fourth quarter valued at about $118,000. Finally, Tableaux LLC acquired a new stake in shares of Kimbell Royalty in the fourth quarter valued at about $120,000. Institutional investors own 25.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on KRP shares. Royal Bank Of Canada assumed coverage on Kimbell Royalty in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 price objective on the stock. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered Kimbell Royalty from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kimbell Royalty in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.00.
Kimbell Royalty Trading Down 0.3%
Shares of KRP stock opened at $15.06 on Friday. Kimbell Royalty has a 52-week low of $11.31 and a 52-week high of $15.80. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 17.93 and a beta of 0.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.12 and a current ratio of 7.30. The firm has a fifty day moving average of $14.86 and a 200-day moving average of $14.64.
Kimbell Royalty (NYSE:KRP – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company had revenue of $112.48 million during the quarter, compared to the consensus estimate of $93.45 million. During the same period last year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, equities research analysts forecast that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.
Kimbell Royalty Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.47 per share. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 dividend on an annualized basis and a yield of 12.5%. The ex-dividend date is Monday, August 17th. Kimbell Royalty’s dividend payout ratio is 195.24%.
Kimbell Royalty Company Profile
Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.
The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.
Featured Articles
- Five stocks we like better than Kimbell Royalty
- Is Best Buy the AI Winner Hiding in the Electronics Aisle?
- Applied Materials Beat Everything but Wall Street’s Expectations for Margins
- Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone
- Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing
Want to see what other hedge funds are holding KRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimbell Royalty (NYSE:KRP – Free Report).
Receive News & Ratings for Kimbell Royalty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimbell Royalty and related companies with MarketBeat.com's FREE daily email newsletter.
