KIMBELL ROYALTY (KRP) Position Increased by Lucas Capital Management
Lucas Capital Management boosted its stake in shares of KIMBELL ROYALTY (NYSE:KRP) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,131 shares of the energy company’s stock after buying an additional 4,131 shares during the period. Lucas Capital Management’s holdings in KIMBELL ROYALTY were worth $911,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of KRP. FMR LLC purchased a new stake in shares of KIMBELL ROYALTY during the first quarter valued at approximately $17,094,000. Wellington Management Group LLP purchased a new stake in shares of KIMBELL ROYALTY during the first quarter valued at approximately $13,766,000. Morgan Stanley purchased a new stake in shares of KIMBELL ROYALTY during the first quarter valued at approximately $4,907,000. HITE Hedge Asset Management LLC purchased a new stake in shares of KIMBELL ROYALTY during the first quarter valued at approximately $2,194,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of KIMBELL ROYALTY during the first quarter valued at approximately $999,000. 20.38% of the stock is owned by hedge funds and other institutional investors.
Shares of KIMBELL ROYALTY (NYSE:KRP) opened at 15.66 on Friday. KIMBELL ROYALTY has a 12 month low of $15.06 and a 12 month high of $20.89. The stock’s 50 day moving average is $16.34 and its 200 day moving average is $18.52. The company’s market cap is $255.76 million.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a $0.30 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.66%.
Several equities research analysts have commented on KRP shares. Royal Bank Of Canada upped their target price on shares of KIMBELL ROYALTY from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised shares of KIMBELL ROYALTY from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.75.
In other news, Director Brett G. Taylor purchased 4,687 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average price of $16.10 per share, for a total transaction of $75,460.70. Following the transaction, the director now owns 23,646 shares of the company’s stock, valued at $380,700.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Adams III bought 4,772 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were bought at an average price of $15.87 per share, for a total transaction of $75,731.64. Following the transaction, the director now directly owns 5,072 shares in the company, valued at $80,492.64. The disclosure for this purchase can be found here. Insiders bought a total of 11,459 shares of company stock worth $183,572 in the last 90 days.
About KIMBELL ROYALTY
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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