91,153 Shares in Kimbell Royalty $KRP Purchased by Zimmer Partners LP

Key Points

• Zimmer Partners LP invested approximately $1.28 million in Kimbell Royalty, acquiring 91,153 shares during the first quarter, which accounted for 0.09% of the company's total stock.
• Kimbell Royalty recently had its dividend cut, declaring a quarterly dividend of $0.38 per share, reflecting a high dividend yield of 11.2% despite a substantial negative payout ratio.
• Wall Street analysts have a mixed outlook for Kimbell Royalty, with ratings ranging from a "Buy" to "Sell," and an average target price of $17.20.

Zimmer Partners LP purchased a new stake in Kimbell Royalty (NYSE:KRP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 91,153 shares of the energy company's stock, valued at approximately $1,276,000. Zimmer Partners LP owned 0.09% of Kimbell Royalty as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Kimbell Royalty by 15.1% in 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 period. Adage Capital Partners GP L.L.C. boosted its position in 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 acquiring an additional 1,451,666 shares in the last quarter. Ghisallo Capital Management LLC bought a new stake in Kimbell Royalty during the 1st quarter valued at $10,150,000. Epoch Investment Partners Inc. boosted its position in 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 acquiring an additional 464,142 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 acquiring an additional 82,499 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Insider Activity at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 3,600 shares of the firm's 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 sale, the insider directly owned 43,663 shares in the company, valued at $599,929.62. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

Kimbell Royalty Stock Performance

Shares of KRP traded down $0.17 during mid-day trading on Friday, reaching $13.53. The company had a trading volume of 365,364 shares, compared to its average volume of 405,062. 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 stock has a market capitalization of $1.46 billion, a P/E ratio of -338.13 and a beta of 0.57. The stock has a 50 day moving average of $14.18 and a two-hundred day moving average of $13.66.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its 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). Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.The company had revenue of $86.55 million during the quarter, compared to analysts' expectations of $79.77 million. During the same quarter in the previous year, the company earned $0.11 EPS. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 11.2%. Kimbell Royalty's dividend payout ratio (DPR) is -3,800.00%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen cut Kimbell Royalty from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. Zacks Research lowered Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, KeyCorp reduced their target price on Kimbell Royalty from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $17.20.

Kimbell Royalty Company Profile