Kimbell Royalty (NYSE:KRP) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Kimbell Royalty (NYSE:KRP) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on KRP. Wall Street Zen downgraded shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Sunday. KeyCorp dropped their price target on shares of Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $17.20.

Kimbell Royalty Price Performance

KRP opened at $13.70 on Monday. The stock’s 50-day moving average price is $14.01 and its 200 day moving average price is $13.61. Kimbell Royalty has a 12-month low of $10.98 and a 12-month high of $16.99. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -342.60 and a beta of 0.45. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $86.55 million during the quarter, compared to analyst estimates of $79.77 million. Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. As a group, sell-side analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.38 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.52 dividend on an annualized basis and a yield of 11.1%. Kimbell Royalty’s dividend payout ratio (DPR) is currently -3,800.00%.

Insider Transactions at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 3,600 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $13.74, for a total transaction of $49,464.00. Following the completion of the transaction, the insider directly owned 43,663 shares of the company’s stock, valued at approximately $599,929.62. This represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty

Hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its position in shares of Kimbell Royalty by 604.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company’s stock worth $23,683,000 after buying an additional 1,451,666 shares during the last quarter. Ghisallo Capital Management LLC acquired a new stake in Kimbell Royalty during the 1st quarter worth $10,150,000. Epoch Investment Partners Inc. lifted its position in Kimbell Royalty by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company’s stock valued at $9,414,000 after acquiring an additional 464,142 shares during the last quarter. Yaupon Capital Management LP acquired a new position in Kimbell Royalty in the first quarter valued at $6,300,000. Finally, Energy Income Partners LLC grew its holdings in shares of Kimbell Royalty by 231.4% during the first quarter. Energy Income Partners LLC now owns 585,969 shares of the energy company’s stock worth $8,204,000 after purchasing an additional 409,175 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Company Profile