Kimbell Royalty (NYSE:KRP) Insider Blayne Rhynsburger Sells 6,609 Shares

Kimbell Royalty (NYSE:KRP) insider Blayne Rhynsburger sold 6,609 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.48, for a total value of $95,698.32. Following the completion of the transaction, the insider directly owned 75,163 shares of the company’s stock, valued at $1,088,360.24. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Kimbell Royalty Stock Performance

Shares of Kimbell Royalty stock opened at $14.66 on Wednesday. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $15.12. The firm’s 50 day moving average is $13.87 and its two-hundred day moving average is $13.20. The firm has a market capitalization of $1.58 billion, a P/E ratio of 23.65, a P/E/G ratio of 3.42 and a beta of 0.30.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings data on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.07. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The business had revenue of $82.45 million during the quarter, compared to the consensus estimate of $76.78 million. During the same quarter in the previous year, the firm earned ($0.48) EPS. The company’s revenue was up 23.7% compared to the same quarter last year. Research analysts forecast that Kimbell Royalty will post 0.65 EPS for the current fiscal year.

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

Kimbell Royalty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 18th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 10.1%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, March 18th. Kimbell Royalty’s dividend payout ratio is presently 238.71%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in shares of Kimbell Royalty by 9.2% in the third quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock valued at $40,827,000 after buying an additional 255,688 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Kimbell Royalty by 32.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,210,948 shares of the energy company’s stock worth $14,241,000 after buying an additional 294,482 shares during the last quarter. UBS Group AG increased its position in Kimbell Royalty by 9.4% in the 4th quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock valued at $11,867,000 after acquiring an additional 86,957 shares during the period. Energy Income Partners LLC increased its position in Kimbell Royalty by 12.3% in the 3rd quarter. Energy Income Partners LLC now owns 647,396 shares of the energy company’s stock valued at $8,733,000 after acquiring an additional 70,783 shares during the period. Finally, Pin Oak Investment Advisors Inc. raised its stake in Kimbell Royalty by 0.9% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 618,128 shares of the energy company’s stock valued at $8,339,000 after acquiring an additional 5,213 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho dropped their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Citigroup boosted their target price on Kimbell Royalty from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Zacks Research cut Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Weiss Ratings upgraded Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen lowered Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Kimbell Royalty has an average rating of “Hold” and an average price target of $16.67.

About Kimbell Royalty

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.