Kimbell Royalty $KRP Shares Acquired by GraniteShares Advisors LLC

GraniteShares Advisors LLC increased its holdings in Kimbell Royalty (NYSE:KRP) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,676 shares of the energy company’s stock after acquiring an additional 39,510 shares during the quarter. GraniteShares Advisors LLC owned approximately 0.21% of Kimbell Royalty worth $2,689,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in shares of Kimbell Royalty by 18.3% in the 4th quarter. Nordea Investment Management AB now owns 220,716 shares of the energy company’s stock valued at $2,585,000 after acquiring an additional 34,175 shares during the period. Corient Private Wealth LLC purchased a new stake in shares of Kimbell Royalty during the second quarter worth approximately $944,000. Freestone Capital Holdings LLC raised its stake in shares of Kimbell Royalty by 81.7% during the fourth quarter. Freestone Capital Holdings LLC now owns 181,693 shares of the energy company’s stock worth $2,137,000 after purchasing an additional 81,693 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Kimbell Royalty by 9.2% during the third quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock worth $40,827,000 after purchasing an additional 255,688 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Kimbell Royalty by 53.6% during the third quarter. Truist Financial Corp now owns 120,363 shares of the energy company’s stock worth $1,624,000 after purchasing an additional 42,002 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Citigroup upped their price target on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Zacks Research cut Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Mizuho cut their price target on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Finally, KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kimbell Royalty has an average rating of “Hold” and an average price target of $17.33.

Kimbell Royalty Stock Up 0.2%

KRP opened at $14.12 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.64 and a quick ratio of 8.64. The business has a 50 day simple moving average of $14.41 and a 200-day simple moving average of $13.32. The stock has a market capitalization of $1.52 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.60 and a beta of 0.29. Kimbell Royalty has a 12 month low of $11.31 and a 12 month high of $15.12.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. The business had revenue of $82.45 million during the quarter, compared to analysts’ expectations of $76.78 million. Kimbell Royalty had a return on equity of 13.73% and a net margin of 26.43%.The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.48) EPS. On average, equities analysts anticipate that Kimbell Royalty will post 0.93 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 18th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.48 annualized dividend and a dividend yield of 10.5%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s payout ratio is 238.71%.

Kimbell Royalty announced that its Board of Directors has approved a stock buyback program on Monday, March 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s 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 completion of the sale, the insider directly owned 75,163 shares of the company’s stock, valued at $1,088,360.24. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Kimbell Royalty Profile

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.