Oxbow Advisors LLC Makes New $5.93 Million Investment in Kimbell Royalty $KRP

Oxbow Advisors LLC purchased a new position in shares of Kimbell Royalty (NYSE:KRP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 407,988 shares of the energy company’s stock, valued at approximately $5,928,000.

A number of other hedge funds also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. grew its stake in shares of 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 valued at $14,241,000 after buying an additional 294,482 shares during the period. UBS Group AG raised its position in shares of Kimbell Royalty by 9.4% in the 4th quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock worth $11,867,000 after buying an additional 86,957 shares during the period. Energy Income Partners LLC raised its position in shares of Kimbell Royalty by 12.3% in the 3rd 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 during the period. Pin Oak Investment Advisors Inc. boosted its holdings in 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 valued at $8,339,000 after acquiring an additional 5,213 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Kimbell Royalty by 4.3% in the third quarter. Vanguard Group Inc. now owns 596,903 shares of the energy company’s stock valued at $8,052,000 after acquiring an additional 24,419 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research downgraded Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Kimbell Royalty in a report on Tuesday, August 11th. Wall Street Zen raised Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada initiated coverage on Kimbell Royalty in a report on Friday, May 29th. They set an “outperform” rating and a $20.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kimbell Royalty currently has an average rating of “Hold” and an average price target of $18.00.

Kimbell Royalty Price Performance

Kimbell Royalty stock opened at $14.88 on Wednesday. The firm has a fifty day moving average of $14.84 and a 200-day moving average of $14.67. Kimbell Royalty has a 52-week low of $11.31 and a 52-week high of $15.80. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.71 billion, a P/E ratio of 17.72 and a beta of 0.30.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17. The business had revenue of $112.48 million for the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, analysts predict that Kimbell Royalty will post 0.81 EPS for the current year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.47 per share. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Monday, August 17th. Kimbell Royalty’s payout ratio is presently 195.24%.

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.