Blayne Rhynsburger Sells 1,700 Shares of Kimbell Royalty (NYSE:KRP) Stock

Key Points

• Insider sale: Blayne Rhynsburger sold 1,700 Kimbell Royalty shares at an average price of $14.31, receiving $24,327. After the transaction, Rhynsburger owned 68,939 shares, a 2.41% reduction.
• Strong quarterly results and higher dividend: Kimbell reported quarterly EPS of $0.40, beating estimates of $0.23, while revenue rose 29.9% year over year to $112.48 million. The company increased its quarterly dividend to $0.47, representing a 13.1% annualized yield.
• Analyst outlook remains favorable: Kimbell has a consensus “Moderate Buy” rating and an average price target of $18.25, compared with a recent trading price of $14.40.

Kimbell Royalty (NYSE:KRP - Get Free Report) insider Blayne Rhynsburger sold 1,700 shares of the business's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $14.31, for a total value of $24,327.00. Following the sale, the insider owned 68,939 shares of the company's stock, valued at approximately $986,517.09. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Blayne Rhynsburger also recently made the following trade(s):

• On Tuesday, August 25th, Blayne Rhynsburger sold 4,524 shares of Kimbell Royalty stock. The shares were sold at an average price of $15.08, for a total transaction of $68,221.92.

Kimbell Royalty Stock Performance

KRP traded up $0.12 during trading on Wednesday, hitting $14.40. The company's stock had a trading volume of 1,298,352 shares, compared to its average volume of 894,938. Kimbell Royalty has a one year low of $11.31 and a one year high of $15.80. The business's 50 day simple moving average is $14.91 and its 200-day simple moving average is $14.83. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.65 billion, a PE ratio of 17.15 and a beta of 0.31.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The energy company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The business had revenue of $112.48 million during the quarter, compared to analysts' expectations of $93.45 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The business's quarterly revenue was up 29.9% on a year-over-year basis. As a group, sell-side analysts predict that Kimbell Royalty will post 1.1 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 13.1%. This is a boost from Kimbell Royalty's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 17th. Kimbell Royalty's dividend payout ratio is currently 223.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KRP shares. KeyCorp increased their price target on Kimbell Royalty from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Royal Bank Of Canada initiated coverage on shares of Kimbell Royalty in a research note on Friday, May 29th. They issued an "outperform" rating and a $20.00 price target on the stock. Wall Street Zen raised shares of Kimbell Royalty from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research upgraded Kimbell Royalty from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings upgraded Kimbell Royalty from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Kimbell Royalty currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

Institutional Trading of Kimbell Royalty

Several hedge funds have recently made changes to their positions in KRP. Envestnet Asset Management Inc. grew its position in Kimbell Royalty by 12.2% in the second quarter. Envestnet Asset Management Inc. now owns 41,479 shares of the energy company's stock worth $603,000 after acquiring an additional 4,518 shares in the last quarter. State Street Corp raised its position in Kimbell Royalty by 58.6% during the second quarter. State Street Corp now owns 146,932 shares of the energy company's stock valued at $2,135,000 after purchasing an additional 54,288 shares during the period. Tidal Investments LLC raised its position in Kimbell Royalty by 11.2% during the second quarter. Tidal Investments LLC now owns 64,413 shares of the energy company's stock valued at $936,000 after purchasing an additional 6,479 shares during the period. WINTON GROUP Ltd raised its position in Kimbell Royalty by 50.0% during the second quarter. WINTON GROUP Ltd now owns 38,088 shares of the energy company's stock valued at $553,000 after purchasing an additional 12,688 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in shares of Kimbell Royalty by 7.4% in the 2nd quarter. Engineers Gate Manager LP now owns 150,788 shares of the energy company's stock valued at $2,191,000 after purchasing an additional 10,385 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP NYSE: KRP is a publicly traded master limited partnership that owns mineral and royalty interests in oil and natural gas properties across the United States. The partnership primarily generates revenue from its share of production and lease payments associated with properties developed and operated by third-party exploration and production companies.

Kimbell's assets include mineral, overriding royalty, nonparticipating royalty and working interests. Its portfolio provides exposure to several major U.S.

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