Graham Capital Management L.P. Grows Stake in Kimbell Royalty $KRP

Key Points

• Graham Capital Management L.P. has significantly increased its ownership in Kimbell Royalty by 152.6%, acquiring an additional 71,778 shares, resulting in a total stake of 118,815 shares valued at approximately $1.66 million.
• Kimbell Royalty recently reported disappointing earnings, posting earnings per share of $0.02, missing expectations of $0.14, despite a 12.9% increase in revenue compared to the previous year.
• The company announced a quarterly dividend cut, with shareholders receiving a dividend of $0.38 per share, which brings its annual dividend yield to 10.9% amid a staggering payout ratio of -3,800%.

Graham Capital Management L.P. increased its holdings in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 152.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,815 shares of the energy company's stock after purchasing an additional 71,778 shares during the quarter. Graham Capital Management L.P. owned 0.11% of Kimbell Royalty worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KRP. Tower Research Capital LLC TRC lifted its holdings in shares of Kimbell Royalty by 230.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,922 shares of the energy company's stock valued at $145,000 after purchasing an additional 6,222 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Kimbell Royalty by 43.0% during the fourth quarter. Northern Trust Corp now owns 41,658 shares of the energy company's stock valued at $676,000 after purchasing an additional 12,532 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Kimbell Royalty by 37.8% during the fourth quarter. Cetera Investment Advisers now owns 16,418 shares of the energy company's stock valued at $266,000 after purchasing an additional 4,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kimbell Royalty by 14.6% during 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 in the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Kimbell Royalty by 6.0% during the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company's stock valued at $500,000 after purchasing an additional 1,747 shares in the last quarter. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Stock Performance

KRP traded down $0.33 during midday trading on Friday, reaching $13.41. The company had a trading volume of 375,226 shares, compared to its average volume of 437,185. 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 business has a 50-day moving average of $14.23 and a two-hundred day moving average of $13.72. The company has a market cap of $1.45 billion, a P/E ratio of -335.13 and a beta of 0.57. 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 issued 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). The company had revenue of $86.55 million during the quarter, compared to analysts' expectations of $79.77 million. Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, equities research analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The firm also recently announced 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 11.3%. Kimbell Royalty's dividend payout ratio (DPR) is currently -3,800.00%.

Insider Activity

In related news, insider Blayne Rhynsburger sold 3,600 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $13.74, for a total transaction of $49,464.00. Following the completion of the sale, the insider owned 43,663 shares in the company, valued at approximately $599,929.62. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

KRP has been the subject of a number of research reports. Zacks Research cut Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. KeyCorp reduced their price objective on Kimbell Royalty from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Wall Street Zen cut Kimbell Royalty from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Kimbell Royalty currently has a consensus rating of "Hold" and a consensus target price of $17.20.

About Kimbell Royalty