American Century Companies Inc. Has $35.59 Million Holdings in Kimbell Royalty $KRP

Key Points

• American Century Companies Inc. increased its holdings in Kimbell Royalty by 15.1%, acquiring an additional 334,009 shares, bringing its total ownership to approximately 2.38% of the company valued at $35.6 million.
• Recent analyst ratings for Kimbell Royalty reflect a mixed sentiment, with one brokerage upgrading it to a "buy", while others have maintained a "hold" rating, resulting in an average target price of $17.40.
• Kimbell Royalty plans to pay a quarterly dividend of $0.38 per share on August 25, which represents an 11.2% yield, despite the company reporting a significant negative payout ratio.

American Century Companies Inc. grew its stake in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,542,362 shares of the energy company's stock after purchasing an additional 334,009 shares during the period. American Century Companies Inc. owned about 2.38% of Kimbell Royalty worth $35,593,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KRP. Bessemer Group Inc. purchased a new stake in shares of Kimbell Royalty during the first quarter valued at $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Kimbell Royalty during the first quarter valued at $34,000. GAMMA Investing LLC purchased a new stake in shares of Kimbell Royalty during the first quarter valued at $34,000. Chilton Capital Management LLC purchased a new stake in shares of Kimbell Royalty during the first quarter valued at $44,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Kimbell Royalty by 30.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock valued at $70,000 after purchasing an additional 1,000 shares during the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Stock Up 1.3%

Kimbell Royalty stock traded up $0.19 during mid-day trading on Wednesday, hitting $13.98. The company's stock had a trading volume of 326,709 shares, compared to its average volume of 488,309. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.45 and a quick ratio of 5.45. Kimbell Royalty has a 52-week low of $10.98 and a 52-week high of $16.99. The firm's 50 day moving average is $14.28 and its 200 day moving average is $13.82. The company has a market cap of $1.51 billion, a PE ratio of -349.38 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 for the quarter, missing the consensus estimate of $0.14 by ($0.12). Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.The firm had revenue of $86.55 million during the quarter, compared to analyst estimates of $79.77 million. During the same period in the previous year, the company earned $0.11 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts anticipate that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on KRP shares. Wall Street Zen downgraded Kimbell Royalty from a "buy" rating to a "hold" rating in a research note on Monday. Zacks Research downgraded Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research note 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.40.

About Kimbell Royalty