Kimbell Royalty $KRP is Orvieto Partners L.P.’s 8th Largest Position

Orvieto Partners L.P. decreased its holdings in shares of Kimbell Royalty (NYSE:KRP) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 397,554 shares of the energy company’s stock after selling 79,939 shares during the period. Kimbell Royalty makes up approximately 4.9% of Orvieto Partners L.P.’s holdings, making the stock its 8th largest position. Orvieto Partners L.P.’s holdings in Kimbell Royalty were worth $5,753,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp acquired a new position in Kimbell Royalty in the 4th quarter valued at about $6,604,000. Cubist Systematic Strategies LLC acquired a new stake in Kimbell Royalty during the 2nd quarter worth approximately $5,445,000. Adage Capital Partners GP L.L.C. lifted its position in Kimbell Royalty by 32.1% during the 4th 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 acquiring an additional 294,482 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Kimbell Royalty during the 3rd quarter worth approximately $3,472,000. Finally, Marshall Wace LLP purchased a new position in shares of Kimbell Royalty in the 4th quarter valued at approximately $2,077,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Trading Up 0.2%

NYSE:KRP opened at $15.16 on Friday. The stock has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $14.36. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 32.97 and a beta of 0.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12. Kimbell Royalty has a 1 year low of $11.31 and a 1 year high of $15.80.

Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, May 7th. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.19). Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. The business had revenue of $65.54 million during the quarter, compared to analyst estimates of $90.25 million. During the same period last year, the business posted $0.20 EPS. Kimbell Royalty’s revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.8%. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, May 19th. Kimbell Royalty’s dividend payout ratio (DPR) is 356.52%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KRP. Royal Bank Of Canada assumed coverage on Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price on the stock. KeyCorp upgraded shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research report on Thursday, April 2nd. Weiss Ratings cut shares of Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. Finally, Citigroup lifted their target price on shares of Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

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.