Burkehill Global Management LP Buys New Position in Kimbell Royalty (NYSE:KRP)

Key Points

• Burkehill Global Management LP made a new investment of approximately $2.80 million in Kimbell Royalty, acquiring 200,000 shares and representing about 0.19% of the company.
• Multiple institutional investors have shown interest in Kimbell Royalty, with Raymond James Financial Inc. investing over $30 million during the fourth quarter of last year.
• Analyst ratings for Kimbell Royalty have shifted recently, with Wall Street Zen lowering the stock from a "buy" to a "hold" rating, and a consensus target price now set at $17.40.

Burkehill Global Management LP acquired a new position in Kimbell Royalty (NYSE:KRP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 200,000 shares of the energy company's stock, valued at approximately $2,800,000. Burkehill Global Management LP owned about 0.19% of Kimbell Royalty at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KRP. Bessemer Group Inc. purchased a new stake in shares of Kimbell Royalty in the first quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in shares of Kimbell Royalty in the 1st quarter valued at $34,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty during the first quarter worth about $34,000. Chilton Capital Management LLC acquired a new stake in shares of Kimbell Royalty in the first quarter valued at $44,000. Finally, TD Waterhouse Canada Inc. raised its position in Kimbell Royalty by 30.4% in the 4th 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 in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Price Performance

Shares of KRP traded up $0.05 on Wednesday, reaching $14.49. The stock had a trading volume of 63,360 shares, compared to its average volume of 758,641. Kimbell Royalty has a twelve month low of $10.98 and a twelve month high of $16.99. The firm has a market capitalization of $1.55 billion, a PE ratio of -362.00 and a beta of 0.52. The firm has a 50-day moving average of $14.25 and a 200 day moving average of $13.93. The company has a quick ratio of 6.02, a current ratio of 5.45 and a debt-to-equity ratio of 0.72.

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

Kimbell Royalty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend is Monday, August 18th. Kimbell Royalty's dividend payout ratio (DPR) is currently -3,800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. KeyCorp lowered their target price on shares of Kimbell Royalty from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Wall Street Zen downgraded Kimbell Royalty from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.40.

Insider Activity

In other news, insider Blayne Rhynsburger sold 2,000 shares of the business'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 value of $26,540.00. Following the completion of the transaction, the insider owned 47,263 shares of the company's stock, valued at $627,180.01. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.60% of the stock is owned by corporate insiders.

Kimbell Royalty Profile