Vestcor Inc Decreases Stake in Kimbell Royalty $KRP

Vestcor Inc reduced its stake in Kimbell Royalty (NYSE:KRP) by 54.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 76,773 shares of the energy company’s stock after selling 91,006 shares during the period. Vestcor Inc’s holdings in Kimbell Royalty were worth $903,000 at the end of the most recent quarter.

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

Kimbell Royalty Price Performance

Shares of KRP stock opened at $15.55 on Tuesday. The firm has a market cap of $1.68 billion, a P/E ratio of 33.79 and a beta of 0.29. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $15.65. The business’s 50 day moving average price is $14.86 and its 200-day moving average price is $13.73. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12.

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

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

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were given a $0.41 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.6%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio is 356.52%.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 6,609 shares of Kimbell Royalty 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 sale, the insider directly owned 75,163 shares in the company, valued at approximately $1,088,360.24. This trade represents a 8.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.