Blayne Rhynsburger Sells 6,609 Shares of Kimbell Royalty (NYSE:KRP) Stock

Kimbell Royalty (NYSE:KRP) insider Blayne Rhynsburger sold 6,609 shares of the stock in a transaction dated Monday, March 23rd. The shares were 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 in the company, valued at $1,088,360.24. This represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kimbell Royalty Trading Up 0.5%

Kimbell Royalty stock opened at $14.61 on Friday. The stock has a 50-day moving average price of $13.95 and a 200 day moving average price of $13.22. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 3.42 and a beta of 0.30. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $15.12. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.07. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The company had revenue of $82.45 million for the quarter, compared to the consensus estimate of $76.78 million. During the same quarter in the prior year, the company earned ($0.48) EPS. Kimbell Royalty’s quarterly revenue was up 23.7% on a year-over-year basis. Sell-side analysts anticipate that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty declared that its Board of Directors has initiated a stock buyback program on Monday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the energy company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 18th were paid a $0.37 dividend. The ex-dividend date was Wednesday, March 18th. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.1%. Kimbell Royalty’s dividend payout ratio (DPR) is currently 238.71%.

Hedge Funds Weigh In On Kimbell Royalty

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in Kimbell Royalty by 32.6% during the first 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 in the last quarter. Jane Street Group LLC purchased a new stake in shares of Kimbell Royalty in the first quarter valued at approximately $297,000. SG Americas Securities LLC increased its position in shares of Kimbell Royalty by 151.0% in the second quarter. SG Americas Securities LLC now owns 39,595 shares of the energy company’s stock valued at $553,000 after buying an additional 23,820 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Kimbell Royalty by 27.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 72,522 shares of the energy company’s stock worth $1,012,000 after buying an additional 15,779 shares during the period. Finally, Swiss National Bank raised its stake in shares of Kimbell Royalty by 6.1% during the 2nd quarter. Swiss National Bank now owns 159,000 shares of the energy company’s stock worth $2,220,000 after buying an additional 9,100 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Wall Street Zen lowered Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Mizuho decreased their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Citigroup upped their target price on Kimbell Royalty from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Zacks Research lowered Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.67.

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.