Kimbell Royalty (NYSE:KRP) Sees Large Decrease in Short Interest

Kimbell Royalty (NYSE:KRP) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 1,590,101 shares, a decrease of 15.0% from the February 26th total of 1,869,708 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 865,907 shares, the days-to-cover ratio is currently 1.8 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Citigroup increased their target price on Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings upgraded shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. Mizuho reduced their target price on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Wall Street Zen lowered shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Zacks Research cut shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.33.

Insider Activity

In other news, insider Blayne Rhynsburger sold 6,609 shares of Kimbell Royalty stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.48, for a total transaction of $95,698.32. Following the transaction, the insider owned 75,163 shares in the company, valued at $1,088,360.24. The trade was a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRP. State of Wyoming acquired a new position in Kimbell Royalty in the 3rd quarter worth approximately $62,000. EverSource Wealth Advisors LLC raised its position in Kimbell Royalty by 29.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock worth $64,000 after purchasing an additional 1,250 shares in the last quarter. Marex Group plc acquired a new stake in shares of Kimbell Royalty in the 4th quarter valued at $118,000. Sowell Financial Services LLC bought a new position in shares of Kimbell Royalty in the fourth quarter valued at approximately $120,000. Finally, Tableaux LLC acquired a new stake in shares of Kimbell Royalty in the fourth quarter valued at $120,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Price Performance

Kimbell Royalty stock opened at $14.26 on Wednesday. The firm’s 50-day moving average is $14.09 and its two-hundred day moving average is $13.24. Kimbell Royalty has a 12-month low of $10.98 and a 12-month high of $15.12. The stock has a market capitalization of $1.54 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.50 and a beta of 0.30. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.64 and a quick ratio of 8.64.

Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The firm had revenue of $82.45 million for the quarter, compared to analysts’ expectations of $76.78 million. During the same period in the previous year, the company posted ($0.48) earnings per share. Kimbell Royalty’s revenue was up 23.7% compared to the same quarter last year. Equities analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty announced that its Board of Directors has initiated a stock buyback plan on Monday, March 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 18th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.48 annualized dividend and a yield of 10.4%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s dividend payout ratio (DPR) is 238.71%.

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.