Kimbell Royalty (NYSE:KRP) Sees Significant Increase in Short Interest

Key Points

• Kimbell Royalty (NYSE:KRP) saw a significant increase in short interest, rising by 43.2% to 1,210,000 shares as of September 30th.
• The company recently cut its quarterly dividend to $0.38 per share, representing a yield of 11.4% and a troubling dividend payout ratio of -3,800.00%.
• Analysts have given mixed ratings on KRP, with one buy, four holds, and two sells, reflecting a consensus rating of "Reduce" at a target price of $17.20.

Kimbell Royalty (NYSE:KRP - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,210,000 shares, a growth of 43.2% from the September 15th total of 844,700 shares. Based on an average daily volume of 447,300 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 447,300 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

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

Insider Activity at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 3,600 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $13.74, for a total value of $49,464.00. Following the completion of the transaction, the insider directly owned 43,663 shares in the company, valued at approximately $599,929.62. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty

A number of hedge funds have recently modified their holdings of KRP. Bessemer Group Inc. purchased a new position in Kimbell Royalty in the first quarter valued at about $29,000. GAMMA Investing LLC bought a new position in Kimbell Royalty during the first quarter valued at approximately $34,000. Hilltop National Bank acquired a new stake in Kimbell Royalty in the second quarter valued at approximately $42,000. Chilton Capital Management LLC bought a new stake in Kimbell Royalty in the first quarter worth approximately $44,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Kimbell Royalty during the 2nd quarter worth $56,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Stock Up 1.8%

Shares of Kimbell Royalty stock traded up $0.24 on Thursday, hitting $13.36. 66,982 shares of the company's stock traded hands, compared to its average volume of 677,843. 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 cap of $1.44 billion, a P/E ratio of -334.00 and a beta of 0.45. The firm's 50-day moving average is $13.57 and its 200 day moving average is $13.53.

Kimbell Royalty (NYSE:KRP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.12). The company had revenue of $86.55 million for the quarter, compared to the consensus estimate of $79.77 million. Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Equities analysts anticipate 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. Investors of record on Monday, August 18th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.52 annualized dividend and a yield of 11.4%. Kimbell Royalty's dividend payout ratio is currently -3,800.00%.

Kimbell Royalty Company Profile

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