Nordea Investment Management AB Raises Holdings in Kimbell Royalty $KRP

Nordea Investment Management AB raised its position in Kimbell Royalty (NYSE:KRP) by 18.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 220,716 shares of the energy company’s stock after purchasing an additional 34,175 shares during the period. Nordea Investment Management AB owned 0.20% of Kimbell Royalty worth $2,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of Kimbell Royalty by 9.2% during the third 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 in the last quarter. Energy Income Partners LLC lifted its stake in shares of Kimbell Royalty by 12.3% in the third quarter. Energy Income Partners LLC now owns 647,396 shares of the energy company’s stock worth $8,733,000 after buying an additional 70,783 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of Kimbell Royalty by 0.9% in the third quarter. Pin Oak Investment Advisors Inc. now owns 618,128 shares of the energy company’s stock worth $8,339,000 after buying an additional 5,213 shares in the last quarter. Vanguard Group Inc. boosted its position in Kimbell Royalty by 4.3% during the third quarter. Vanguard Group Inc. now owns 596,903 shares of the energy company’s stock worth $8,052,000 after acquiring an additional 24,419 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Kimbell Royalty by 8.6% during the second quarter. First Trust Advisors LP now owns 464,829 shares of the energy company’s stock worth $6,489,000 after acquiring an additional 36,803 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Wall Street Analysts Forecast Growth

KRP has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Mizuho lowered their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Weiss Ratings upgraded Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. Citigroup lifted their price objective on Kimbell Royalty from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Zacks Research lowered Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. 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, Kimbell Royalty has an average rating of “Hold” and a consensus target price of $16.67.

Kimbell Royalty Stock Performance

Shares of Kimbell Royalty stock opened at $14.71 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 3.45 and a beta of 0.30. 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 business’s fifty day simple moving average is $14.00 and its 200-day simple moving average is $13.23.

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

Kimbell Royalty Increases Dividend

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

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

Insider Activity

In other news, 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 transaction, the insider directly owned 75,163 shares in the company, valued at approximately $1,088,360.24. This represents a 8.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Company 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.