Arrowstreet Capital Limited Partnership Buys Shares of 511,748 Kimbell Royalty $KRP

Key Points

• Arrowstreet Capital acquired 511,748 Kimbell Royalty shares worth approximately $7.4 million, giving it a 0.47% stake. Institutional investors collectively own 25.78% of the company.
• Kimbell Royalty reported weaker-than-expected quarterly results, with earnings of $0.04 per share versus the $0.23 consensus estimate and revenue of $65.54 million, down 6.7% year over year.
• The company raised its quarterly dividend to $0.41 per share, implying a $1.64 annualized payout and an 11.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $18.00.

Arrowstreet Capital Limited Partnership purchased a new position in shares of Kimbell Royalty (NYSE:KRP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 511,748 shares of the energy company's stock, valued at approximately $7,405,000. Arrowstreet Capital Limited Partnership owned 0.47% of Kimbell Royalty at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Group AG increased its holdings in shares of Kimbell Royalty by 9.4% in the 4th quarter. UBS Group AG now owns 1,009,057 shares of the energy company's stock worth $11,867,000 after acquiring an additional 86,957 shares during the period. Gabelli Funds LLC boosted its stake in Kimbell Royalty by 47.7% during the 4th quarter. Gabelli Funds LLC now owns 240,000 shares of the energy company's stock valued at $2,822,000 after purchasing an additional 77,500 shares during the period. GraniteShares Advisors LLC grew its position in Kimbell Royalty by 20.9% in the 4th quarter. GraniteShares Advisors LLC now owns 228,676 shares of the energy company's stock worth $2,689,000 after purchasing an additional 39,510 shares during the last quarter. Freestone Capital Holdings LLC grew its position in Kimbell Royalty by 81.7% in the 4th 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. Finally, Pingora Partners LLC increased its stake in shares of Kimbell Royalty by 267.0% in the fourth quarter. Pingora Partners LLC now owns 98,076 shares of the energy company's stock valued at $1,153,000 after purchasing an additional 71,350 shares during the period. Institutional investors and hedge funds own 25.78% of the company's stock.

Kimbell Royalty Stock Up 1.5%

Kimbell Royalty stock opened at $14.97 on Friday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 32.55 and a beta of 0.29. The company has a current ratio of 5.12, a quick ratio of 5.12 and a debt-to-equity ratio of 0.77. The company's 50-day moving average price is $14.90 and its two-hundred day moving average price is $14.47. Kimbell Royalty has a 52 week low of $11.31 and a 52 week high of $15.80.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.19). The company had revenue of $65.54 million during the quarter, compared to analyst estimates of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The company's revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. On average, analysts expect that Kimbell Royalty will post 0.81 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Kimbell Royalty's previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 11.0%. Kimbell Royalty's dividend payout ratio is presently 356.52%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KRP. Weiss Ratings downgraded Kimbell Royalty from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 14th. Royal Bank Of Canada assumed coverage on Kimbell Royalty in a research report on Friday, May 29th. They issued an "outperform" rating and a $20.00 target price on the stock. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

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.

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