Raymond James Financial Inc. Sells 372,182 Shares of Kimbell Royalty $KRP

Key Points

• Raymond James Financial Inc. reduced its stake in Kimbell Royalty by 19.8%, holding about 1.41% of the company worth approximately $21.05 million after selling 372,182 shares.
• Kimbell Royalty reported a net margin of 10.67% and a revenue of $86.55 million for the quarter, which exceeded analyst estimates, though its EPS of $0.02 missed the consensus estimate of $0.14.
• Analysts downgraded Kimbell Royalty from a "strong-buy" to a "hold" rating, with an average price target of $17.40 attributed to the stock.

Raymond James Financial Inc. decreased its holdings in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,503,903 shares of the energy company's stock after selling 372,182 shares during the quarter. Raymond James Financial Inc. owned approximately 1.41% of Kimbell Royalty worth $21,055,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in Kimbell Royalty by 15.1% during the 1st 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Kimbell Royalty by 14.6% during the 4th 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 lifted its holdings in Kimbell Royalty by 44.9% during the 1st 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. First Trust Advisors LP lifted its holdings in Kimbell Royalty by 2.0% during the 4th quarter. First Trust Advisors LP now owns 344,227 shares of the energy company's stock valued at $5,587,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in Kimbell Royalty by 22.5% during the 4th quarter. Aptus Capital Advisors LLC now owns 278,692 shares of the energy company's stock valued at $4,523,000 after purchasing an additional 51,110 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Wall Street Zen downgraded Kimbell Royalty from a "buy" rating to a "hold" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Kimbell Royalty has a consensus rating of "Hold" and an average price target of $17.40.

Kimbell Royalty Price Performance

Kimbell Royalty stock traded down $0.12 during midday trading on Monday, reaching $13.98. The company's stock had a trading volume of 347,277 shares, compared to its average volume of 493,224. The stock has a market cap of $1.51 billion, a PE ratio of -349.48 and a beta of 0.57. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $14.25 and a 200-day moving average price of $13.77. Kimbell Royalty has a 52 week low of $10.98 and a 52 week 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 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). The firm had revenue of $86.55 million for the quarter, compared to the consensus estimate of $79.77 million. Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. On average, sell-side analysts predict 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 was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 10.9%. The ex-dividend date was Monday, August 18th. Kimbell Royalty's payout ratio is -3,800.00%.

Kimbell Royalty Profile