Kimbell Royalty $KRP Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC lowered its holdings in shares of Kimbell Royalty (NYSE:KRP) by 16.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 191,385 shares of the energy company’s stock after selling 37,291 shares during the period. Kimbell Royalty accounts for approximately 2.0% of GraniteShares Advisors LLC’s holdings, making the stock its 8th largest position. GraniteShares Advisors LLC owned about 0.18% of Kimbell Royalty worth $2,769,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KRP. UBS Group AG increased its holdings in shares of Kimbell Royalty by 9.4% in the fourth quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock valued at $11,867,000 after purchasing an additional 86,957 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Kimbell Royalty by 47.7% in the fourth quarter. Gabelli Funds LLC now owns 240,000 shares of the energy company’s stock valued at $2,822,000 after purchasing an additional 77,500 shares during the period. Nordea Investment Management AB lifted its stake in shares of Kimbell Royalty by 18.3% during the 4th quarter. Nordea Investment Management AB now owns 220,716 shares of the energy company’s stock worth $2,585,000 after buying an additional 34,175 shares during the last quarter. Freestone Capital Holdings LLC boosted its holdings in shares of Kimbell Royalty by 81.7% during the 4th quarter. Freestone Capital Holdings LLC now owns 181,693 shares of the energy company’s stock worth $2,137,000 after buying an additional 81,693 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Kimbell Royalty by 9.2% during the 3rd quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock worth $40,827,000 after buying an additional 255,688 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings downgraded Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Citigroup increased their target price on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada assumed coverage on Kimbell Royalty in a report on Friday, May 29th. They set an “outperform” rating and a $20.00 price target for the company. Finally, KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Kimbell Royalty Stock Performance

NYSE KRP opened at $14.45 on Tuesday. The firm has a 50-day moving average price of $14.97 and a two-hundred day moving average price of $13.97. Kimbell Royalty has a 12-month low of $11.31 and a 12-month high of $15.80. The company has a market capitalization of $1.56 billion, a P/E ratio of 31.40 and a beta of 0.29. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.77.

Kimbell Royalty (NYSE:KRP) last announced its earnings results on Thursday, May 7th. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.19). Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business had revenue of $65.54 million for the quarter, compared to the consensus estimate of $90.25 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts anticipate that Kimbell Royalty will post 0.97 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.41 per share. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, May 19th. This represents a $1.64 dividend on an annualized basis and a yield of 11.4%. Kimbell Royalty’s dividend payout ratio is 356.52%.

Kimbell Royalty announced that its board has authorized a share repurchase plan on Monday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the energy company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Kimbell Royalty Profile

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.