Kimbell Royalty (NYSE:KRP) Sets New 12-Month High - Here's Why

Key Points

• Kimbell Royalty shares reached a new 52-week high of $17.00, supported by favorable analyst sentiment. The stock has an average “Buy” rating and an average price target of $18.25.
• The company reported strong quarterly results, with earnings of $0.40 per share and revenue of $112.48 million, exceeding analyst expectations; revenue increased 29.9% year over year.
• Kimbell Royalty raised its quarterly dividend to $0.47 per share, equivalent to an annualized dividend of $1.88 and an 11.1% yield, though its payout ratio stood at 223.81%.

Kimbell Royalty (NYSE:KRP - Get Free Report) shares reached a new 52-week high on Monday. The stock traded as high as $17.00 and last traded at $16.8720, with a volume of 764,890 shares traded. The stock had previously closed at $16.96.

Analysts Set New Price Targets

KRP has been the topic of a number of recent research reports. KeyCorp boosted their price objective on shares of Kimbell Royalty from $17.00 to $18.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 15th. Weiss Ratings upgraded shares of Kimbell Royalty from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, October 13th. Zacks Research upgraded Kimbell Royalty from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 30th. Finally, Wall Street Zen raised shares of Kimbell Royalty from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $18.25.

Kimbell Royalty Stock Performance

The business has a fifty day moving average of $15.12 and a 200-day moving average of $14.96. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.94 billion, a PE ratio of 20.12 and a beta of 0.44.

Kimbell Royalty (NYSE:KRP - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.17. The company had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The firm's revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. Equities research analysts anticipate that Kimbell Royalty will post 1.10 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were given a dividend of $0.47 per share. This is a positive change from Kimbell Royalty's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.88 dividend on an annualized basis and a yield of 11.1%. Kimbell Royalty's payout ratio is 223.81%.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 4,524 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total value of $68,221.92. Following the transaction, the insider directly owned 70,639 shares of the company's stock, valued at approximately $1,065,236.12. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Kimbell Royalty

A number of large investors have recently modified their holdings of the company. Apollon Wealth Management LLC grew its stake in shares of Kimbell Royalty by 5.9% in the third quarter. Apollon Wealth Management LLC now owns 36,734 shares of the energy company's stock valued at $525,000 after buying an additional 2,054 shares in the last quarter. Evanson Financial LLC increased its stake in Kimbell Royalty by 8.3% in the 3rd quarter. Evanson Financial LLC now owns 13,559 shares of the energy company's stock worth $194,000 after purchasing an additional 1,043 shares in the last quarter. Mirador Capital Partners LP lifted its stake in Kimbell Royalty by 1.8% in the 3rd quarter. Mirador Capital Partners LP now owns 249,616 shares of the energy company's stock worth $3,565,000 after acquiring an additional 4,446 shares in the last quarter. Rhodes Investment Advisors Inc. ADV lifted its holdings in shares of Kimbell Royalty by 1.6% during the 3rd quarter. Rhodes Investment Advisors Inc. ADV now owns 151,160 shares of the energy company's stock valued at $2,159,000 after buying an additional 2,319 shares during the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of Kimbell Royalty during the 3rd quarter worth $97,000. 25.78% of the stock is owned by hedge funds and other institutional investors.

About Kimbell Royalty

Kimbell Royalty Partners, LP NYSE: KRP is a publicly traded oil and natural gas mineral and royalty company. It owns mineral, royalty, overriding royalty, and non-operated working interests in producing and undeveloped properties across the onshore United States.

The partnership generates revenue primarily from its share of oil, natural gas, and natural gas liquids produced from properties operated by third-party exploration and production companies. Its asset base is concentrated in major U.S.

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