Nordea Investment Management AB Buys 68,854 Shares of Kimbell Royalty $KRP

Key Points

• Nordea Investment Management AB increased its shareholding in Kimbell Royalty by 60.3% during Q2, acquiring an additional 68,854 shares, resulting in a total ownership of 183,024 shares worth approximately $2.54 million.
• Analysts have downgraded Kimbell Royalty's stock ratings recently, with Wall Street Zen changing from a "buy" to a "hold" rating and Zacks reducing it to a "strong sell," leading to an average target price of $17.20.
• Kimbell Royalty recently announced a quarterly dividend of $0.38 per share, representing an annualized payout of $1.52 and a yield of 11.6%, although the company faces a high dividend payout ratio of -3,800.00%.

Nordea Investment Management AB raised its position in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 60.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,024 shares of the energy company's stock after acquiring an additional 68,854 shares during the period. Nordea Investment Management AB owned approximately 0.17% of Kimbell Royalty worth $2,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC grew its holdings in Kimbell Royalty by 4.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 19,863 shares of the energy company's stock valued at $277,000 after purchasing an additional 895 shares during the last quarter. Ruggaard & Associates LLC boosted its position in shares of Kimbell Royalty by 12.4% during the first quarter. Ruggaard & Associates LLC now owns 11,790 shares of the energy company's stock valued at $165,000 after buying an additional 1,300 shares during the period. Bessemer Group Inc. bought a new position in shares of Kimbell Royalty during the first quarter valued at approximately $29,000. Arizona State Retirement System raised its holdings in shares of Kimbell Royalty by 11.0% in the first quarter. Arizona State Retirement System now owns 22,179 shares of the energy company's stock worth $311,000 after buying an additional 2,206 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Kimbell Royalty during the 1st quarter worth approximately $34,000. Institutional investors own 25.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen lowered Kimbell Royalty from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. KeyCorp decreased their price objective on shares of Kimbell Royalty from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, September 3rd. Zacks Research downgraded shares of Kimbell Royalty from a "hold" rating to a "strong sell" rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Kimbell Royalty in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $17.20.

Kimbell Royalty Trading Up 1.1%

NYSE:KRP opened at $13.11 on Thursday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -327.68 and a beta of 0.45. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $16.99. 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 firm has a 50 day moving average of $13.57 and a 200 day moving average of $13.53.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued 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 business had revenue of $86.55 million during the quarter, compared to analyst estimates of $79.77 million. Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.Kimbell Royalty's revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. As a group, sell-side analysts anticipate that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a dividend of $0.38 per share. The ex-dividend date was Monday, August 18th. This represents a $1.52 dividend on an annualized basis and a yield of 11.6%. Kimbell Royalty's dividend payout ratio is presently -3,800.00%.

Insider Activity

In other news, insider Blayne Rhynsburger sold 3,600 shares of Kimbell Royalty stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $13.74, for a total transaction of $49,464.00. Following the completion of the sale, the insider directly owned 43,663 shares in the company, valued at approximately $599,929.62. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.60% of the company's stock.

Kimbell Royalty Company Profile

Want to see what other hedge funds are holding KRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimbell Royalty (NYSE:KRP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.