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

A number of other institutional investors also recently bought and sold shares of KRP. Bessemer Group Inc. acquired a new position in Kimbell Royalty in the first quarter valued at $29,000. Lowe Wealth Advisors LLC acquired a new position in shares of Kimbell Royalty during the first quarter worth about $34,000. GAMMA Investing LLC acquired a new position in shares of Kimbell Royalty during the first quarter worth about $34,000. Chilton Capital Management LLC acquired a new position in Kimbell Royalty during the first quarter worth about $44,000. Finally, TD Waterhouse Canada Inc. grew its position in Kimbell Royalty by 30.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock worth $70,000 after buying an additional 1,000 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Price Performance

Shares of KRP stock traded down $0.02 during trading hours on Monday, hitting $13.94. The company's stock had a trading volume of 551,842 shares, compared to its average volume of 484,663. The business has a fifty day moving average of $14.30 and a 200-day moving average of $13.82. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -348.50 and a beta of 0.52. Kimbell Royalty has a twelve month low of $10.98 and a twelve month high of $16.99. 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 - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). The business 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 firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. As a group, equities research analysts anticipate that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

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

Analysts Set New Price Targets

KRP has been the topic of several recent analyst reports. Zacks Research lowered shares of Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Wall Street Zen lowered shares of Kimbell Royalty from a "buy" rating to a "hold" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Kimbell Royalty has an average rating of "Hold" and an average target price of $17.40.

Insider Activity

In related news, insider Blayne Rhynsburger sold 2,000 shares of the company's 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 transaction, the insider owned 47,263 shares of the company's stock, valued at approximately $627,180.01. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.60% of the company's stock.

Kimbell Royalty Profile