Chase Investment Counsel Corp Invests $507,000 in Kimbell Royalty $KRP

Chase Investment Counsel Corp bought a new stake in shares of Kimbell Royalty (NYSE:KRP) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 34,959 shares of the energy company’s stock, valued at approximately $507,000.

A number of other hedge funds have also recently bought and sold shares of KRP. Van ECK Associates Corp bought a new position in shares of Kimbell Royalty during the 4th quarter worth about $6,604,000. Arrowstreet Capital Limited Partnership acquired a new stake in Kimbell Royalty during the first quarter worth about $7,405,000. Cubist Systematic Strategies LLC bought a new position in Kimbell Royalty during the second quarter valued at about $5,445,000. Adage Capital Partners GP L.L.C. raised its holdings in Kimbell Royalty by 32.1% in 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 acquiring an additional 294,482 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Kimbell Royalty in the 3rd quarter valued at approximately $3,472,000. 25.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Kimbell Royalty Stock Down 0.2%

Shares of NYSE KRP opened at $15.06 on Monday. The stock has a market cap of $1.73 billion, a PE ratio of 17.93 and a beta of 0.30. The business has a fifty day moving average of $14.86 and a two-hundred day moving average of $14.65. Kimbell Royalty has a 52-week low of $11.31 and a 52-week high of $15.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.30 and a current ratio of 7.30.

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, topping the consensus estimate of $0.23 by $0.17. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The business had revenue of $112.48 million for the quarter, compared to analyst estimates of $93.45 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, equities research analysts expect that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, August 17th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 annualized dividend and a dividend yield of 12.5%. Kimbell Royalty’s dividend payout ratio (DPR) is 195.24%.

Kimbell Royalty 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.