Algert Global LLC Buys 232,680 Shares of Kimbell Royalty $KRP

Key Points

• Algert Global LLC increased its holdings in Kimbell Royalty by 1,925.5% during the first quarter, raising its stake to approximately $3.43 million in value.
• Kimbell Royalty's stock has been recently rated by analysts, with one upgrade to a "buy" rating, while others remain mixed, leading to an overall average rating of "hold" and a consensus price target of $17.40.
• The company reported a miss in quarterly earnings with $0.02 per share, below analyst expectations of $0.14, despite achieving a revenue growth of 12.9% year-over-year.

Algert Global LLC increased its holdings in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 1,925.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,764 shares of the energy company's stock after acquiring an additional 232,680 shares during the quarter. Algert Global LLC owned approximately 0.23% of Kimbell Royalty worth $3,427,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of KRP. Orvieto Partners L.P. purchased a new position in Kimbell Royalty in the fourth quarter valued at approximately $6,103,000. American Century Companies Inc. increased its position in Kimbell Royalty by 15.1% in the first quarter. American Century Companies Inc. now owns 2,542,362 shares of the energy company's stock worth $35,593,000 after buying an additional 334,009 shares during the last quarter. Burkehill Global Management LP purchased a new stake in Kimbell Royalty in the first quarter worth $2,800,000. Marshall Wace LLP purchased a new stake in Kimbell Royalty in the fourth quarter worth $3,151,000. Finally, Barclays PLC increased its position in Kimbell Royalty by 1,279.4% in the fourth quarter. Barclays PLC now owns 187,671 shares of the energy company's stock worth $3,046,000 after buying an additional 174,066 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KRP has been the subject of a number of recent research reports. Wall Street Zen raised Kimbell Royalty from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. Zacks Research downgraded Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $17.40.

Insider Transactions at Kimbell Royalty

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 2,000 shares of Kimbell Royalty stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $13.27, for a total transaction of $26,540.00. Following the completion of the sale, the insider directly owned 47,263 shares in the company, valued at $627,180.01. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Stock Performance

KRP stock traded up $0.3260 during midday trading on Friday, reaching $13.9460. 454,055 shares of the company's stock traded hands, compared to its average volume of 485,859. The company has a 50-day moving average price of $14.30 and a two-hundred day moving average price of $13.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.45 and a current ratio of 5.45. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $16.99. The firm has a market capitalization of $1.50 billion, a PE ratio of -348.65 and a beta of 0.52.

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

Kimbell Royalty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 18th will be given a dividend of $0.38 per share. The ex-dividend date is Monday, August 18th. This represents a $1.52 annualized dividend and a yield of 10.9%. Kimbell Royalty's payout ratio is presently -3,800.00%.

Kimbell Royalty Profile