42,367 Kimbell Royalty $KRP Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC reduced its position in Kimbell Royalty (NYSE:KRP) by 19.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 178,032 shares of the energy company’s stock after selling 42,367 shares during the period. Kimbell Royalty comprises approximately 1.7% of GraniteShares Advisors LLC’s holdings, making the stock its 22nd largest position. GraniteShares Advisors LLC’s holdings in Kimbell Royalty were worth $2,542,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Kimbell Royalty by 329.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company’s stock valued at $52,713,000 after acquiring an additional 2,783,040 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Kimbell Royalty by 32.0% in the 1st quarter. Royal Bank of Canada now owns 596,687 shares of the energy company’s stock worth $8,634,000 after purchasing an additional 144,644 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of Kimbell Royalty in the 2nd quarter worth $8,432,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Kimbell Royalty in the first quarter worth $7,405,000. Finally, Oxbow Advisors LLC purchased a new position in shares of Kimbell Royalty in the second quarter worth $5,928,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KRP has been the topic of a number of research analyst reports. Weiss Ratings raised Kimbell Royalty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. KeyCorp upped their target price on shares of Kimbell Royalty from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, September 15th. Zacks Research raised shares of Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 30th. Finally, Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.25.

Insider Activity

In related news, insider Blayne Rhynsburger sold 4,524 shares of the business’s stock in a transaction that occurred 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 directly owned 70,639 shares in the company, valued at approximately $1,065,236.12. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Stock Down 3.0%

Kimbell Royalty stock opened at $16.37 on Tuesday. Kimbell Royalty has a one year low of $11.31 and a one year high of $17.12. The stock has a fifty day moving average of $15.33 and a 200 day moving average of $14.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.30 and a current ratio of 7.30. The stock has a market cap of $1.88 billion, a PE ratio of 20.20 and a beta of 0.44.

Kimbell Royalty (NYSE:KRP) last announced its earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.17. The business had revenue of $112.48 million for the quarter, compared to analysts’ expectations of $93.45 million. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. As a group, sell-side analysts predict that Kimbell Royalty will post 1.10 EPS for the current year.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 17th. 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 dividend yield of 11.5%. Kimbell Royalty’s payout ratio is 223.81%.

About Kimbell Royalty

Kimbell Royalty Partners, LP (NYSE: KRP) is a publicly traded oil and natural gas mineral and royalty company. It owns mineral, royalty, overriding royalty, and non-operated working interests in producing and undeveloped properties across the onshore United States.

The partnership generates revenue primarily from its share of oil, natural gas, and natural gas liquids produced from properties operated by third-party exploration and production companies. Its asset base is concentrated in major U.S.