Key Points
- Insider sale: Blayne Rhynsburger sold 4,524 Kimbell Royalty shares for approximately $68,222, reducing their position by 6.02% to 70,639 shares.
- Strong quarterly results: Kimbell reported $0.40 in quarterly EPS and $112.48 million in revenue, exceeding analyst estimates and representing 29.9% year-over-year revenue growth.
- Higher dividend, mixed outlook: The company raised its quarterly dividend to $0.47 per share, implying a 12.4% annualized yield, while analysts maintained a consensus “Hold” rating with an $18 price target.
Kimbell Royalty (NYSE:KRP - Get Free Report) insider Blayne Rhynsburger sold 4,524 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total value of $68,221.92. Following the transaction, the insider owned 70,639 shares of the company's stock, valued at $1,065,236.12. The trade was a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Kimbell Royalty Price Performance
KRP opened at $15.22 on Friday. The firm has a 50-day moving average price of $14.87 and a 200-day moving average price of $14.76. Kimbell Royalty has a twelve month low of $11.31 and a twelve month high of $15.80. 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 company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.11 and a beta of 0.30.
Kimbell Royalty (NYSE:KRP - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company had revenue of $112.48 million during the quarter, compared to the consensus estimate of $93.45 million. During the same period last year, the firm earned $0.02 EPS. Kimbell Royalty's revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts expect that Kimbell Royalty will post 0.81 EPS for the current year.
Kimbell Royalty Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date was Monday, August 17th. This is a positive change from Kimbell Royalty's previous quarterly dividend of $0.41. Kimbell Royalty's dividend payout ratio is presently 223.81%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on KRP. Zacks Research cut Kimbell Royalty from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Kimbell Royalty from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Royal Bank Of Canada initiated coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an "outperform" rating and a $20.00 price target for the company. Finally, Weiss Ratings raised shares of Kimbell Royalty from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $18.00.
Check Out Our Latest Stock Analysis on KRP
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bridgewealth Advisory Group LLC lifted its holdings in Kimbell Royalty by 5.7% in the 4th quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company's stock worth $176,000 after buying an additional 810 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Kimbell Royalty by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 193,021 shares of the energy company's stock valued at $2,270,000 after buying an additional 840 shares during the period. Centaurus Financial Inc. increased its stake in shares of Kimbell Royalty by 5.0% during the third quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company's stock valued at $243,000 after buying an additional 852 shares during the period. Ruggaard & Associates LLC raised its holdings in shares of Kimbell Royalty by 8.1% during the second quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company's stock valued at $178,000 after acquiring an additional 950 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its stake in Kimbell Royalty by 4.2% in the first quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company's stock worth $362,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 25.78% of the company's stock.
Kimbell Royalty Company Profile
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Get Free Report)
Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership's business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.
The company's asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.
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