Plan Group Financial LLC Takes Position in Kimbell Royalty (NYSE:KRP)

Key Points

• Plan Group Financial LLC has initiated a new position in Kimbell Royalty by acquiring 34,500 shares worth approximately $483,000 during the 1st quarter.
• Kimbell Royalty's quarterly earnings exceeded analysts' expectations, reporting $0.20 EPS against the consensus estimate of $0.15, along with a revenue increase of 2.9% year-over-year to $84.21 million.
• The company has recently increased its quarterly dividend to $0.47, representing an annualized payout of $1.88 with a yield of 12.8%, a rise from the previous $0.40 dividend.

Plan Group Financial LLC acquired a new position in shares of Kimbell Royalty (NYSE:KRP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,500 shares of the energy company's stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Kimbell Royalty during the 4th quarter worth $30,449,000. 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 worth $10,511,000 after buying an additional 82,499 shares during the period. 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 worth $5,416,000 after buying an additional 119,869 shares during the period. Orvieto Partners L.P. acquired a new position in Kimbell Royalty during the 4th quarter worth about $6,103,000. Finally, 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 worth $5,587,000 after buying an additional 6,867 shares during the period. Institutional investors own 25.78% of the company's stock.

Kimbell Royalty Trading Down 2.1%

Shares of NYSE:KRP traded down $0.32 during midday trading on Thursday, reaching $14.48. The company's stock had a trading volume of 602,692 shares, compared to its average volume of 447,630. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 289.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.02 and a current ratio of 6.02. The firm has a 50 day moving average price of $14.18 and a two-hundred day moving average price of $13.97. Kimbell Royalty has a fifty-two week low of $10.98 and a fifty-two week high of $16.99.

Kimbell Royalty (NYSE:KRP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.12). Kimbell Royalty had a return on equity of 9.69% and a net margin of 5.25%. The firm had revenue of $86.55 million for the quarter, compared to analyst estimates of $79.77 million. During the same period last year, the company posted $0.11 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.88 dividend on an annualized basis and a yield of 13.0%. This is an increase from Kimbell Royalty's previous quarterly dividend of $0.40. Kimbell Royalty's dividend payout ratio is presently 3,760.00%.

Analyst Upgrades and Downgrades

Several brokerages have commented on KRP. Wall Street Zen raised Kimbell Royalty from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. KeyCorp cut their target price on Kimbell Royalty from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.40.

Insider Buying and Selling

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total transaction of $26,540.00. Following the completion of the sale, the insider directly owned 47,263 shares of the company's stock, valued at approximately $627,180.01. The trade was a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company's stock.

Kimbell Royalty Company Profile