Lee Financial Co purchased a new stake in shares of Kimbell Royalty (NYSE:KRP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 532,830 shares of the energy company’s stock, valued at approximately $8,408,000. Kimbell Royalty comprises 2.7% of Lee Financial Co’s portfolio, making the stock its 9th largest position. Lee Financial Co owned about 3.23% of Kimbell Royalty at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada bought a new position in Kimbell Royalty during the second quarter valued at approximately $164,000. Hollow Brook Wealth Management LLC bought a new position in Kimbell Royalty during the second quarter valued at approximately $210,000. Raymond James Financial Services Advisors Inc. bought a new position in Kimbell Royalty during the second quarter valued at approximately $312,000. King Luther Capital Management Corp boosted its stake in shares of Kimbell Royalty by 12.3% during the second quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock valued at $884,000 after purchasing an additional 5,765 shares during the period. Finally, Lucas Capital Management boosted its stake in shares of Kimbell Royalty by 8.3% during the second quarter. Lucas Capital Management now owns 54,131 shares of the energy company’s stock valued at $911,000 after purchasing an additional 4,131 shares during the period. Institutional investors and hedge funds own 21.32% of the company’s stock.
Kimbell Royalty (KRP) traded down $0.06 during trading hours on Tuesday, hitting $16.86. The stock had a trading volume of 4,100 shares, compared to its average volume of 31,306. Kimbell Royalty has a 52-week low of $15.06 and a 52-week high of $20.89. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.08.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date was Friday, November 3rd. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.30.
A number of analysts have recently weighed in on the company. Imperial Capital assumed coverage on Kimbell Royalty in a research note on Tuesday, August 15th. They set an “outperform” rating and a $20.00 price objective for the company. Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price objective on shares of Kimbell Royalty in a research note on Monday, July 24th. Stephens reissued an “overweight” rating and set a $22.00 price objective (down previously from $24.00) on shares of Kimbell Royalty in a research note on Wednesday, August 23rd. Stifel Nicolaus set a $19.00 price objective on Kimbell Royalty and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research lowered Kimbell Royalty from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Kimbell Royalty presently has a consensus rating of “Buy” and a consensus price target of $21.33.
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Kimbell Royalty Profile
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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