Key Points
- Insider sale: Blayne Rhynsburger sold 1,700 Kimbell Royalty shares for $24,327, reducing their holdings by 2.41% to 68,939 shares. The insider had also sold 4,524 shares in August.
- Financial performance and dividend: Kimbell Royalty 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 per share, implying a 13.1% annualized yield.
- Analyst outlook: Shares were trading near $14.40, while analysts maintained a “Moderate Buy” consensus with an average price target of $18.25.
Kimbell Royalty (NYSE:KRP - Get Free Report) insider Blayne Rhynsburger sold 1,700 shares of Kimbell Royalty 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 transaction, the insider directly owned 68,939 shares of the company's stock, valued at $986,517.09. The trade was a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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
Kimbell Royalty stock opened at $14.40 on Thursday. 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 firm has a market cap of $1.65 billion, a P/E ratio of 17.15 and a beta of 0.31. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.80. The firm has a 50-day moving average of $14.91 and a 200-day moving average of $14.83.
Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its earnings results 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 business had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.Kimbell Royalty's revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. Sell-side analysts expect that Kimbell Royalty will post 1.1 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 given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 13.1%. This is a positive change from Kimbell Royalty's previous quarterly dividend of $0.41. The ex-dividend date was Monday, August 17th. Kimbell Royalty's payout ratio is currently 223.81%.
Institutional Trading of Kimbell Royalty
Several large investors have recently added to or reduced their stakes in KRP. Van ECK Associates Corp raised its position in Kimbell Royalty by 329.4% in the second quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company's stock worth $52,713,000 after acquiring an additional 2,783,040 shares during the period. Royal Bank of Canada grew its position in shares of Kimbell Royalty by 32.0% during the 1st quarter. Royal Bank of Canada now owns 596,687 shares of the energy company's stock valued at $8,634,000 after acquiring an additional 144,644 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in shares of Kimbell Royalty during the 2nd quarter valued at $8,432,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Kimbell Royalty in the 1st quarter worth $7,405,000. Finally, Oxbow Advisors LLC purchased a new stake in shares of Kimbell Royalty in the 2nd quarter worth $5,928,000. 25.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on KRP shares. KeyCorp boosted their target price on shares of Kimbell Royalty from $17.00 to $18.00 and gave the company an "overweight" rating in a research note on Tuesday, September 15th. Weiss Ratings upgraded Kimbell Royalty from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Royal Bank Of Canada started coverage on Kimbell Royalty in a report on Friday, May 29th. They issued an "outperform" rating and a $20.00 price objective for the company. Wall Street Zen upgraded Kimbell Royalty from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Zacks Research raised Kimbell Royalty from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty currently has an average rating of "Moderate Buy" and a consensus target price of $18.25.
Check Out Our Latest Report on KRP
Kimbell Royalty Company Profile
(
Get Free Report)
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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