Zimmer Partners LP Invests $1.28 Million in Kimbell Royalty $KRP

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 bought a new position in shares of Kimbell Royalty (NYSE:KRP - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 91,153 shares of the energy company's stock, valued at approximately $1,276,000. Zimmer Partners LP owned about 0.09% of Kimbell Royalty at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at $29,000. GAMMA Investing LLC bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at $34,000. Lowe Wealth Advisors LLC bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at $34,000. Chilton Capital Management LLC bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at $44,000. Finally, MAI Capital Management boosted its stake in shares of Kimbell Royalty by 4,300.0% in the 1st quarter. MAI Capital Management now owns 4,400 shares of the energy company's stock valued at $62,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Insider Transactions at Kimbell Royalty

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 3,600 shares of Kimbell Royalty stock in a transaction that occurred 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 $599,929.62. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KRP shares. Wall Street Zen lowered shares of Kimbell Royalty from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. KeyCorp lowered their price objective on shares of Kimbell Royalty from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. Finally, Zacks Research downgraded shares of Kimbell Royalty from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.20.

Kimbell Royalty Stock Performance

Shares of KRP traded down $0.29 during trading hours on Monday, hitting $13.24. The company's stock had a trading volume of 252,866 shares, compared to its average volume of 717,351. The business has a 50 day simple moving average of $14.18 and a two-hundred day simple moving average of $13.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.45 and a quick ratio of 5.45. Kimbell Royalty has a 52-week low of $10.98 and a 52-week high of $16.99. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -330.75 and a beta of 0.57.

Kimbell Royalty (NYSE:KRP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.12). Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. The company had revenue of $86.55 million for the quarter, compared to the consensus estimate of $79.77 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders 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 annualized dividend and a yield of 11.5%. Kimbell Royalty's payout ratio is presently -3,800.00%.

Kimbell Royalty Company Profile