Truist Financial Corp Raises Holdings in Kimbell Royalty $KRP

Key Points

• Truist Financial Corp increased its holdings in Kimbell Royalty by 233.0%, owning 78,361 shares worth approximately $1.09 million after acquiring 54,829 additional shares in the second quarter.
• Kimbell Royalty reported a loss of $0.12 earnings per share in its latest quarterly results, missing analysts' estimates, despite revenues exceeding expectations by about 12.9% year-over-year.
• The company's recent quarterly dividend declaration resulted in a payment of $0.38 per share, leading to a significant negative payout ratio of -3,800.00%.

Truist Financial Corp grew its position in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 233.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,361 shares of the energy company's stock after buying an additional 54,829 shares during the period. Truist Financial Corp owned 0.07% of Kimbell Royalty worth $1,094,000 at the end of the most recent reporting period.

Several other institutional investors 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 first 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. Adage Capital Partners GP L.L.C. lifted its stake in shares of Kimbell Royalty by 604.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company's stock valued at $23,683,000 after buying an additional 1,451,666 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Kimbell Royalty during the 1st quarter valued at approximately $10,150,000. Epoch Investment Partners Inc. lifted its stake in shares of Kimbell Royalty by 222.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company's stock valued at $9,414,000 after buying an additional 464,142 shares in the last quarter. Finally, Energy Income Partners LLC lifted its stake in shares of Kimbell Royalty by 231.4% during the 1st quarter. Energy Income Partners LLC now owns 585,969 shares of the energy company's stock valued at $8,204,000 after buying an additional 409,175 shares in the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Trading Down 2.9%

Shares of KRP stock opened at $12.94 on Monday. Kimbell Royalty has a 12-month low of $10.98 and a 12-month high of $16.99. 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 firm's 50 day moving average is $13.82 and its 200 day moving average is $13.57. The stock has a market capitalization of $1.40 billion, a P/E ratio of -323.50 and a beta of 0.45.

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 for 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 company's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. Research analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current 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 $0.38 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.52 annualized dividend and a yield of 11.7%. Kimbell Royalty's payout ratio is presently -3,800.00%.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 3,600 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $13.74, for a total transaction of $49,464.00. Following the sale, the insider directly owned 43,663 shares of the company's stock, valued at $599,929.62. This represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

About Kimbell Royalty

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