IFG Advisory LLC Sells 8,348 Shares of Kimbell Royalty $KRP

IFG Advisory LLC lessened its position in shares of Kimbell Royalty (NYSE:KRP) by 26.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,925 shares of the energy company’s stock after selling 8,348 shares during the period. IFG Advisory LLC’s holdings in Kimbell Royalty were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KRP. Hilltop National Bank bought a new position in shares of Kimbell Royalty during the 2nd quarter worth approximately $42,000. Chilton Capital Management LLC bought a new position in Kimbell Royalty in the first quarter valued at $44,000. MAI Capital Management grew its position in Kimbell Royalty by 4,300.0% in the first quarter. MAI Capital Management now owns 4,400 shares of the energy company’s stock valued at $62,000 after purchasing an additional 4,300 shares in the last quarter. NCM Capital Management LLC bought a new stake in Kimbell Royalty during the 1st quarter worth about $151,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Kimbell Royalty during the 1st quarter worth about $154,000. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Trading Down 0.7%

NYSE KRP opened at $13.14 on Tuesday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -328.53 and a beta of 0.45. The business’s fifty day moving average is $13.47 and its 200-day moving average is $13.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.45 and a quick ratio of 5.45. Kimbell Royalty has a one year low of $10.98 and a one year high of $16.99.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.12). Kimbell Royalty had a return on equity of 12.56% and a net margin of 10.67%.The firm had revenue of $86.55 million for the quarter, compared to the consensus estimate of $79.77 million. During the same quarter in the previous year, the company posted $0.11 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts predict that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.52 dividend on an annualized basis and a yield of 11.6%. Kimbell Royalty’s payout ratio is presently -3,800.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on KRP. Weiss Ratings restated a “hold (c-)” rating on shares of Kimbell Royalty in a report on Wednesday, October 8th. KeyCorp decreased their price target on Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Zacks Research raised shares of Kimbell Royalty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kimbell Royalty has an average rating of “Hold” and an average target price of $17.20.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 3,600 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $13.74, for a total value of $49,464.00. Following the transaction, the insider directly owned 43,663 shares in the company, valued at approximately $599,929.62. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

About Kimbell Royalty