Gabelli Funds LLC Purchases New Shares in Kimbell Royalty $KRP

Key Points

• Gabelli Funds LLC has acquired a new position in Kimbell Royalty by purchasing 125,000 shares, valuing the investment at approximately $1.75 million.
• Kimbell Royalty reported a miss in EPS for the last quarter at $0.02 against expectations of $0.14, despite a revenue increase of 12.9% year-over-year.
• The company has recently cut its dividend, issuing a quarterly payment of $0.38, which reflects a high payout ratio of -3,800%.

Gabelli Funds LLC purchased a new stake in shares of Kimbell Royalty (NYSE:KRP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 125,000 shares of the energy company's stock, valued at approximately $1,750,000. Gabelli Funds LLC owned about 0.12% of Kimbell Royalty at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KRP. Tower Research Capital LLC TRC increased its stake in Kimbell Royalty by 230.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,922 shares of the energy company's stock worth $145,000 after purchasing an additional 6,222 shares during the period. Stifel Financial Corp increased its stake in Kimbell Royalty by 6.2% in the 4th quarter. Stifel Financial Corp now owns 250,502 shares of the energy company's stock worth $4,066,000 after purchasing an additional 14,557 shares during the period. Tudor Investment Corp ET AL increased its stake in Kimbell Royalty by 60.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 215,360 shares of the energy company's stock worth $3,495,000 after purchasing an additional 81,331 shares during the period. Northern Trust Corp increased its stake in Kimbell Royalty by 43.0% in the 4th quarter. Northern Trust Corp now owns 41,658 shares of the energy company's stock worth $676,000 after purchasing an additional 12,532 shares during the period. Finally, Aptus Capital Advisors LLC increased its stake in Kimbell Royalty by 22.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 278,692 shares of the energy company's stock worth $4,523,000 after purchasing an additional 51,110 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Trading Down 0.3%

Shares of KRP traded down $0.04 during mid-day trading on Tuesday, hitting $13.94. 502,474 shares of the company's stock traded hands, compared to its average volume of 736,384. 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 has a 1 year low of $10.98 and a 1 year high of $16.99. The firm has a market capitalization of $1.50 billion, a P/E ratio of -348.38 and a beta of 0.57. The business's 50-day moving average price is $14.25 and its 200-day moving average price is $13.77.

Kimbell Royalty (NYSE:KRP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share (EPS) 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 analysts' expectations of $79.77 million. During the same period last year, the firm posted $0.11 earnings per share. Kimbell Royalty's quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that Kimbell Royalty will post 0.65 EPS for the current fiscal year.

Kimbell Royalty Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were given a dividend of $0.38 per share. The ex-dividend date was Monday, August 18th. This represents a $1.52 annualized dividend and a dividend yield of 10.9%. Kimbell Royalty's payout ratio is currently -3,800.00%.

Analysts Set New Price Targets

KRP has been the topic of a number of analyst reports. Zacks Research cut Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Wall Street Zen cut Kimbell Royalty from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.40.

Kimbell Royalty Profile