Cresset Asset Management LLC Purchases Shares of 87,420 Kimbell Royalty $KRP

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 position in Kimbell Royalty (NYSE:KRP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. purchased a new position in Kimbell Royalty in the first quarter worth $29,000. Lowe Wealth Advisors LLC purchased a new position in Kimbell Royalty in the first quarter worth $34,000. GAMMA Investing LLC purchased a new position in Kimbell Royalty in the first quarter worth $34,000. Chilton Capital Management LLC purchased a new position in Kimbell Royalty in the first quarter worth $44,000. Finally, TD Waterhouse Canada Inc. boosted its position in Kimbell Royalty by 30.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock worth $70,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Kimbell Royalty Price Performance

Shares of KRP traded down $0.0250 during mid-day trading on Monday, reaching $13.9350. 463,943 shares of the stock traded hands, compared to its average volume of 745,554. The firm has a fifty day moving average price of $14.30 and a 200 day moving average price of $13.83. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -348.50 and a beta of 0.52. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a 1 year low of $10.98 and a 1 year high of $16.99.

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

Kimbell Royalty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 18th will be given a dividend of $0.38 per share. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Wall Street Zen lowered Kimbell Royalty from a "buy" rating to a "hold" rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kimbell Royalty presently has a consensus rating of "Hold" and an average price target of $17.40.

Insider Activity at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 2,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total transaction of $26,540.00. Following the transaction, the insider directly owned 47,263 shares in the company, valued at approximately $627,180.01. This represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.60% of the company's stock.

Kimbell Royalty Profile