Kimbell Royalty $KRP Position Raised by Atlas Wealth LLC

Atlas Wealth LLC raised its stake in Kimbell Royalty (NYSE:KRP) by 70.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,000 shares of the energy company’s stock after buying an additional 7,000 shares during the quarter. Atlas Wealth LLC’s holdings in Kimbell Royalty were worth $237,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Kimbell Royalty by 15.1% in the first quarter. American Century Companies Inc. now owns 2,542,362 shares of the energy company’s stock valued at $35,593,000 after buying an additional 334,009 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Kimbell Royalty by 604.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company’s stock valued at $23,683,000 after buying an additional 1,451,666 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Kimbell Royalty in the first quarter valued at $10,150,000. Epoch Investment Partners Inc. lifted its stake in Kimbell Royalty by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company’s stock valued at $9,414,000 after buying an additional 464,142 shares during the last quarter. Finally, Energy Income Partners LLC lifted its stake in Kimbell Royalty by 231.4% in the first quarter. Energy Income Partners LLC now owns 585,969 shares of the energy company’s stock valued at $8,204,000 after buying an additional 409,175 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on KRP. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kimbell Royalty in a research note on Wednesday, October 8th. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. KeyCorp cut their target price on Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Finally, Zacks Research raised Kimbell Royalty from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.20.

Insider Transactions at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 3,600 shares of Kimbell Royalty stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $13.74, for a total transaction of $49,464.00. Following the transaction, the insider directly owned 43,663 shares of the company’s stock, valued at $599,929.62. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Price Performance

Shares of KRP opened at $13.10 on Wednesday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -327.38 and a beta of 0.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.45 and a current ratio of 5.45. Kimbell Royalty has a one year low of $10.98 and a one year high of $16.99. The stock’s fifty day moving average is $13.45 and its 200-day moving average is $13.63.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The business had revenue of $86.55 million for the quarter, compared to analyst estimates of $79.77 million. Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. Kimbell Royalty’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. Equities analysts anticipate that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date of this dividend was Monday, August 18th. Kimbell Royalty’s payout ratio is presently -3,800.00%.

About Kimbell Royalty