Van ECK Associates Corp raised its holdings in Kimbell Royalty (NYSE:KRP – Free Report) by 329.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,627,850 shares of the energy company’s stock after buying an additional 2,783,040 shares during the quarter. Van ECK Associates Corp owned 3.16% of Kimbell Royalty worth $52,713,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in KRP. Bridgewealth Advisory Group LLC boosted its position in shares of Kimbell Royalty by 5.7% during the 4th quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company’s stock valued at $176,000 after acquiring an additional 810 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Kimbell Royalty by 0.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 193,021 shares of the energy company’s stock valued at $2,270,000 after purchasing an additional 840 shares during the period. Centaurus Financial Inc. grew its stake in shares of Kimbell Royalty by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock valued at $243,000 after purchasing an additional 852 shares during the period. Ruggaard & Associates LLC lifted its position in shares of Kimbell Royalty by 8.1% during the 2nd quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company’s stock worth $178,000 after buying an additional 950 shares during the period. Finally, Hilltop Holdings Inc. boosted its stake in Kimbell Royalty by 4.2% in the 1st quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock valued at $362,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on KRP shares. Royal Bank Of Canada began coverage on Kimbell Royalty in a report on Friday, May 29th. They set an “outperform” rating and a $20.00 price objective for the company. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Wall Street Zen raised shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Zacks Research cut shares of Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.
Kimbell Royalty Stock Down 2.2%
NYSE KRP opened at $14.90 on Friday. The stock has a fifty day moving average of $14.87 and a 200-day moving average of $14.76. The stock has a market capitalization of $1.71 billion, a P/E ratio of 17.74 and a beta of 0.30. Kimbell Royalty has a 52 week low of $11.31 and a 52 week high of $15.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.30 and a current ratio of 7.30.
Kimbell Royalty (NYSE:KRP – Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The business had revenue of $112.48 million for the quarter, compared to analyst estimates of $93.45 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. 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 EPS for the current year.
Kimbell Royalty Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 17th. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 dividend on an annualized basis and a yield of 12.6%. Kimbell Royalty’s payout ratio is 223.81%.
Insider Transactions at Kimbell Royalty
In other Kimbell Royalty news, insider Blayne Rhynsburger sold 4,524 shares of Kimbell Royalty stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total transaction of $68,221.92. Following the completion of the sale, the insider owned 70,639 shares of the company’s stock, valued at approximately $1,065,236.12. The trade was a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.
About Kimbell Royalty
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.
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