Kimbell Royalty $KRP Position Cut by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC reduced its stake in Kimbell Royalty by 45.5%, selling 126,691 shares and now holding approximately 0.14% of the company valued at $2,128,000.
• Various institutional investors have adjusted their positions in Kimbell Royalty, with TD Waterhouse Canada Inc. increasing its stake by 30.4% and now owning 4,287 shares.
• Kimbell Royalty reported a quarterly EPS of $0.02, missing the expected $0.14, while its revenue of $86.55 million exceeded analyst estimates.

Aptus Capital Advisors LLC decreased its holdings in Kimbell Royalty (NYSE:KRP - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,001 shares of the energy company's stock after selling 126,691 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.14% of Kimbell Royalty worth $2,128,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Algert Global LLC lifted its stake in shares of Kimbell Royalty by 1,925.5% in the first quarter. Algert Global LLC now owns 244,764 shares of the energy company's stock worth $3,427,000 after acquiring an additional 232,680 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in Kimbell Royalty during the first quarter valued at approximately $1,224,000. American Century Companies Inc. raised its stake in Kimbell Royalty by 15.1% during the first quarter. American Century Companies Inc. now owns 2,542,362 shares of the energy company's stock valued at $35,593,000 after buying an additional 334,009 shares in the last quarter. HighTower Advisors LLC raised its stake in Kimbell Royalty by 198.6% during the first quarter. HighTower Advisors LLC now owns 72,182 shares of the energy company's stock valued at $1,011,000 after buying an additional 48,009 shares in the last quarter. Finally, Burkehill Global Management LP acquired a new stake in Kimbell Royalty during the first quarter valued at approximately $2,800,000. Institutional investors and hedge funds own 25.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KRP. Wall Street Zen upgraded Kimbell Royalty from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Zacks Research cut 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 given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.40.

Insider Activity at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total transaction of $26,540.00. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.60% of the company's stock.

Kimbell Royalty Stock Performance

Shares of NYSE:KRP traded up $0.3260 during trading on Friday, hitting $13.9460. 454,055 shares of the company traded hands, compared to its average volume of 485,859. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -348.65 and a beta of 0.52. The business's fifty day moving average is $14.30 and its 200-day moving average is $13.84. Kimbell Royalty has a one year low of $10.98 and a one year high of $16.99. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP - Get Free Report) last posted its 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 company had revenue of $86.55 million for the quarter, compared to the consensus estimate 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 period last year, the company posted $0.11 earnings per share. As a group, equities analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 18th will be issued 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 -3,800.00%.

About Kimbell Royalty