87,420 Shares in Kimbell Royalty $KRP Bought by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC purchased 87,420 shares of Kimbell Royalty, valued at approximately $1,224,000, during the first quarter.
• Institutional investors now own approximately 25.78% of Kimbell Royalty, while insiders hold 5.60% of the stock, indicating significant interest from both entities.
• Kimbell Royalty reported earnings of $0.02 per share, missing estimates, while revenue increased 12.9% year-over-year to $86.55 million.

Cresset Asset Management LLC acquired a new stake in Kimbell Royalty (NYSE:KRP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 87,420 shares of the energy company's stock, valued at approximately $1,224,000. Cresset Asset Management LLC owned about 0.08% of Kimbell Royalty at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. American Century Companies Inc. increased its holdings in shares of Kimbell Royalty by 15.1% in 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 purchasing an additional 334,009 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Kimbell Royalty by 14.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company's stock valued at $10,511,000 after purchasing an additional 82,499 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Kimbell Royalty by 44.9% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 386,884 shares of the energy company's stock valued at $5,416,000 after purchasing an additional 119,869 shares during the last quarter. Orvieto Partners L.P. purchased a new stake in shares of Kimbell Royalty in the fourth quarter valued at $6,103,000. Finally, First Trust Advisors LP lifted its position in shares of Kimbell Royalty by 2.0% in the fourth quarter. First Trust Advisors LP now owns 344,227 shares of the energy company's stock valued at $5,587,000 after acquiring an additional 6,867 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Kimbell Royalty Stock Performance

Kimbell Royalty stock traded down $0.13 during mid-day trading on Tuesday, hitting $13.81. 450,606 shares of the company's stock traded hands, compared to its average volume of 487,714. The firm has a 50 day moving average price of $14.29 and a 200 day moving average price of $13.82. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.49 billion, a PE ratio of -345.13 and a beta of 0.52. Kimbell Royalty has a one year low of $10.98 and a one year high of $16.99.

Kimbell Royalty (NYSE:KRP - Get Free Report) last announced 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 net margin of 10.67% and a return on equity of 12.56%. The business had revenue of $86.55 million for the quarter, compared to the consensus estimate of $79.77 million. During the same period in the previous year, the firm earned $0.11 EPS. The firm's revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast 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 was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend was Monday, August 18th. Kimbell Royalty's payout ratio is currently -3,800.00%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen lowered 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 report 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.40.

Insider Activity at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 2,000 shares of Kimbell Royalty stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total value of $26,540.00. Following the transaction, the insider directly owned 47,263 shares in the company, valued at $627,180.01. The trade was a 4.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.60% of the company's stock.

Kimbell Royalty Company Profile