Requisite Capital Management LLC Purchases New Stake in Kimbell Royalty $KRP

Requisite Capital Management LLC purchased a new stake in shares of Kimbell Royalty (NYSE:KRP) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 59,990 shares of the energy company’s stock, valued at approximately $705,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in Kimbell Royalty by 9.2% during the third quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock valued at $40,827,000 after buying an additional 255,688 shares during the period. UBS Group AG grew its position in Kimbell Royalty by 9.4% during the fourth quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock valued at $11,867,000 after buying an additional 86,957 shares during the period. Energy Income Partners LLC grew its position in Kimbell Royalty by 12.3% during the third quarter. Energy Income Partners LLC now owns 647,396 shares of the energy company’s stock valued at $8,733,000 after buying an additional 70,783 shares during the period. Pin Oak Investment Advisors Inc. grew its position in Kimbell Royalty by 0.9% during the third quarter. Pin Oak Investment Advisors Inc. now owns 618,128 shares of the energy company’s stock valued at $8,339,000 after buying an additional 5,213 shares during the period. Finally, Vanguard Group Inc. grew its position in Kimbell Royalty by 4.3% during the third quarter. Vanguard Group Inc. now owns 596,903 shares of the energy company’s stock valued at $8,052,000 after buying an additional 24,419 shares during the period. Institutional investors own 25.78% of the company’s stock.

Insider Buying and Selling

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 6,609 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $14.48, for a total transaction of $95,698.32. Following the sale, the insider directly owned 75,163 shares of the company’s stock, valued at $1,088,360.24. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KRP has been the subject of several research reports. Wall Street Zen lowered shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research lowered shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Weiss Ratings lowered shares of Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Citigroup upped their price objective on shares of Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, KeyCorp raised shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Kimbell Royalty has a consensus rating of “Hold” and a consensus price target of $17.33.

Kimbell Royalty Price Performance

NYSE KRP opened at $15.45 on Monday. The company has a market cap of $1.67 billion, a PE ratio of 33.60 and a beta of 0.29. Kimbell Royalty has a 52 week low of $11.31 and a 52 week high of $15.65. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $14.65 and its two-hundred day simple moving average is $13.53.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. Kimbell Royalty’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. Research analysts predict that Kimbell Royalty will post 1.04 earnings per share for the current year.

Kimbell Royalty announced that its Board of Directors has initiated a share repurchase program on Monday, March 9th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the energy company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 10.6%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, May 19th. Kimbell Royalty’s payout ratio is currently 321.74%.

Kimbell Royalty 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.