HB Wealth Management LLC Increases Position in Kimbell Royalty (NYSE:KRP)

HB Wealth Management LLC boosted its holdings in shares of Kimbell Royalty (NYSE:KRP) by 25.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the energy company’s stock after purchasing an additional 5,000 shares during the quarter. HB Wealth Management LLC’s holdings in Kimbell Royalty were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Bessemer Group Inc. purchased a new stake in shares of Kimbell Royalty during the first quarter worth about $29,000. Lowe Wealth Advisors LLC acquired a new stake in Kimbell Royalty in the 1st quarter worth about $34,000. GAMMA Investing LLC purchased a new stake in Kimbell Royalty during the 1st quarter worth approximately $34,000. Chilton Capital Management LLC acquired a new position in shares of Kimbell Royalty during the first quarter valued at approximately $44,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Kimbell Royalty by 30.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company’s stock valued at $70,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Insider Activity

In other news, insider Blayne Rhynsburger sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total transaction of $26,540.00. Following the sale, the insider owned 47,263 shares of the company’s stock, valued at approximately $627,180.01. This trade represents a 4.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Stock Down 0.7%

Shares of KRP opened at $14.76 on Friday. The firm has a market cap of $1.58 billion, a P/E ratio of 295.20 and a beta of 0.52. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.44. Kimbell Royalty has a 12-month low of $10.98 and a 12-month high of $16.99. The company’s 50-day moving average price is $14.05 and its 200 day moving average price is $14.01.

Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings data on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Kimbell Royalty had a net margin of 5.25% and a return on equity of 9.69%. The firm had revenue of $84.21 million during the quarter, compared to analysts’ expectations of $84.05 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.47 per share. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.88 annualized dividend and a dividend yield of 12.7%. Kimbell Royalty’s dividend payout ratio is presently 3,760.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KRP shares. KeyCorp lowered their price target on shares of Kimbell Royalty from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Sunday, June 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.40.

About Kimbell Royalty