Kimbell Royalty $KRP Shares Acquired by Pingora Partners LLC

Pingora Partners LLC raised its holdings in shares of Kimbell Royalty (NYSE:KRP) by 267.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,076 shares of the energy company’s stock after acquiring an additional 71,350 shares during the quarter. Pingora Partners LLC’s holdings in Kimbell Royalty were worth $1,153,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in KRP. Royal Bank of Canada boosted its position in shares of Kimbell Royalty by 32.6% in the 1st quarter. Royal Bank of Canada now owns 371,582 shares of the energy company’s stock valued at $5,202,000 after purchasing an additional 91,263 shares during the period. Jane Street Group LLC acquired a new stake in shares of Kimbell Royalty in the 1st quarter valued at about $297,000. Legal & General Group Plc boosted its position in shares of Kimbell Royalty by 17.2% in the 2nd quarter. Legal & General Group Plc now owns 67,890 shares of the energy company’s stock valued at $948,000 after purchasing an additional 9,987 shares during the period. First Trust Advisors LP boosted its position in shares of Kimbell Royalty by 8.6% in the 2nd quarter. First Trust Advisors LP now owns 464,829 shares of the energy company’s stock valued at $6,489,000 after purchasing an additional 36,803 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Kimbell Royalty in the 2nd quarter valued at about $1,220,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.48, for a total value of $95,698.32. Following the completion of the transaction, the insider directly owned 75,163 shares of the company’s stock, valued at $1,088,360.24. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. KeyCorp raised Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 target price for the company in a research report on Thursday, April 2nd. Weiss Ratings cut Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Citigroup upped their target price on Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Mizuho decreased their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Kimbell Royalty Stock Up 0.3%

KRP opened at $15.31 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.12 and a quick ratio of 5.12. The business has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $13.80. The stock has a market capitalization of $1.65 billion, a P/E ratio of 33.27 and a beta of 0.29. Kimbell Royalty has a 12 month low of $11.31 and a 12 month high of $15.80.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.19). The business had revenue of $65.54 million during the quarter, compared to analyst estimates of $90.25 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. On average, equities analysts anticipate that Kimbell Royalty will post 0.97 earnings per share for the current fiscal year.

Kimbell Royalty declared that its board has authorized a stock repurchase plan on Monday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the energy company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is 356.52%.

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.