Kimbell Royalty (NYSE:KRP) Short Interest Update

Kimbell Royalty (NYSE:KRP) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,590,101 shares, a drop of 15.0% from the February 26th total of 1,869,708 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 865,907 shares, the short-interest ratio is presently 1.8 days.

Kimbell Royalty Price Performance

Shares of KRP stock traded down $0.39 during midday trading on Tuesday, reaching $14.45. 856,670 shares of the company traded hands, compared to its average volume of 718,500. The firm’s 50 day simple moving average is $14.05 and its two-hundred day simple moving average is $13.23. Kimbell Royalty has a 1-year low of $10.98 and a 1-year high of $15.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.64 and a quick ratio of 8.64. The firm has a market cap of $1.56 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 3.47 and a beta of 0.30.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share 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 business had revenue of $82.45 million for the quarter, compared to analysts’ expectations of $76.78 million. During the same quarter in the prior year, the firm posted ($0.48) EPS. The company’s revenue was up 23.7% compared to the same quarter last year. On average, equities research analysts expect that Kimbell Royalty will post 0.65 EPS for the current fiscal year.

Kimbell Royalty declared that its Board of Directors has authorized a share repurchase plan on Monday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the energy company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 18th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 10.2%. 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. Kimbell Royalty’s dividend payout ratio is currently 238.71%.

Wall Street Analyst Weigh In

KRP has been the subject of several recent analyst reports. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Citigroup upped their price objective on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research downgraded Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Mizuho decreased their target price on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Kimbell Royalty currently has a consensus rating of “Hold” and a consensus target price of $17.33.

Insiders Place Their Bets

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 6,609 shares of Kimbell Royalty stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.48, for a total value of $95,698.32. Following the sale, the insider owned 75,163 shares of the company’s stock, valued at approximately $1,088,360.24. The trade was a 8.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirador Capital Partners LP raised its position in Kimbell Royalty by 279.5% during the third quarter. Mirador Capital Partners LP now owns 238,266 shares of the energy company’s stock worth $3,214,000 after acquiring an additional 175,480 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Kimbell Royalty by 18.3% in the fourth quarter. Nordea Investment Management AB now owns 220,716 shares of the energy company’s stock valued at $2,585,000 after purchasing an additional 34,175 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Kimbell Royalty by 200.9% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 129,243 shares of the energy company’s stock worth $1,804,000 after purchasing an additional 86,291 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Kimbell Royalty during the 2nd quarter worth approximately $944,000. Finally, First Financial Bankshares Inc raised its position in shares of Kimbell Royalty by 1,171.0% during the 3rd quarter. First Financial Bankshares Inc now owns 227,922 shares of the energy company’s stock worth $3,075,000 after purchasing an additional 209,989 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

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.