Kimbell Royalty (NYSE:KRP) Stock Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Kimbell Royalty shares rose 1.2% and crossed above their 50-day moving average of $15.38, trading as high as $15.49.
• Analyst sentiment is positive: the stock has a consensus “Buy” rating and an average price target of $18.25, with recent upgrades including Zacks Research’s move to “Strong Buy.”
• The company missed quarterly earnings and revenue estimates, though revenue grew 7.1% year over year. It also trimmed its quarterly dividend from $0.47 to $0.45, equivalent to an annualized yield of 11.7%.

Kimbell Royalty (NYSE:KRP - Get Free Report)'s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $15.38 and traded as high as $15.49. Kimbell Royalty shares last traded at $15.4490, with a volume of 848,339 shares changing hands.

Analyst Ratings Changes

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

Kimbell Royalty Stock Up 1.2%

The company has a debt-to-equity ratio of 0.69, a current ratio of 3.79 and a quick ratio of 7.30. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 20.06 and a beta of 0.38. The firm has a 50 day moving average price of $15.38 and a 200-day moving average price of $14.86.

Kimbell Royalty (NYSE:KRP - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.13). The business had revenue of $86.33 million during the quarter, compared to the consensus estimate of $104.41 million. Kimbell Royalty had a net margin of 25.39% and a return on equity of 13.37%. Kimbell Royalty's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. As a group, equities analysts predict that Kimbell Royalty will post 1.10 EPS for the current fiscal year.

Kimbell Royalty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 11.7%. This is a drop from Kimbell Royalty's previous quarterly dividend of $0.47. The ex-dividend date is Monday, November 16th. Kimbell Royalty's dividend payout ratio (DPR) is 244.16%.

Insider Transactions at Kimbell Royalty

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 4,524 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total value of $68,221.92. Following the completion of the sale, the insider directly owned 70,639 shares in the company, valued at $1,065,236.12. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Kimbell Royalty

Several large investors have recently made changes to their positions in the stock. Hilltop Holdings Inc. boosted its stake in Kimbell Royalty by 4.2% in the 1st quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company's stock worth $362,000 after purchasing an additional 1,000 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Kimbell Royalty by 3.5% during the first quarter. Sunbelt Securities Inc. now owns 30,233 shares of the energy company's stock worth $437,000 after buying an additional 1,017 shares during the period. Evanson Financial LLC grew its holdings in shares of Kimbell Royalty by 8.3% during the third quarter. Evanson Financial LLC now owns 13,559 shares of the energy company's stock worth $194,000 after buying an additional 1,043 shares in the last quarter. Arrow Investment Advisors LLC raised its position in Kimbell Royalty by 8.7% in the 3rd quarter. Arrow Investment Advisors LLC now owns 15,759 shares of the energy company's stock valued at $225,000 after buying an additional 1,266 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Kimbell Royalty by 2.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 51,111 shares of the energy company's stock valued at $730,000 after acquiring an additional 1,341 shares in the last quarter. Institutional investors own 25.78% of the company's stock.

Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP is a Fort Worth-based company that owns oil and natural gas mineral and royalty interests. It leases these interests to exploration and production companies and receives royalties when oil or natural gas is produced. The company's portfolio spans producing areas across the United States, including major basins such as the Permian, Eagle Ford, Bakken, and Appalachian regions. Kimbell generally does not drill wells or operate production facilities itself; its revenue is tied to activity by the operators working on its properties.

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