Truist Financial Corp Sells 51,891 Shares of Kimbell Royalty $KRP

Truist Financial Corp reduced its holdings in Kimbell Royalty (NYSE:KRP) by 43.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,472 shares of the energy company’s stock after selling 51,891 shares during the quarter. Truist Financial Corp owned 0.06% of Kimbell Royalty worth $805,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming bought a new position in Kimbell Royalty in the 3rd quarter worth about $62,000. Westwood Holdings Group Inc. purchased a new position in shares of Kimbell Royalty in the 2nd quarter worth about $140,000. Sowell Financial Services LLC purchased a new position in shares of Kimbell Royalty in the 4th quarter worth about $120,000. Lee Financial Co purchased a new position in shares of Kimbell Royalty in the 3rd quarter worth about $141,000. Finally, Samalin Investment Counsel LLC purchased a new position in shares of Kimbell Royalty in the 3rd quarter worth about $148,000. 25.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KRP shares. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Citigroup upped their price objective on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Weiss Ratings cut Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a report on Thursday, April 2nd. Finally, Mizuho cut their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.33.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 6,609 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $14.48, for a total transaction of $95,698.32. Following the completion of the sale, the insider directly owned 75,163 shares in the company, valued at $1,088,360.24. This represents a 8.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is owned by corporate insiders.

Kimbell Royalty Trading Up 0.1%

Shares of KRP stock opened at $15.45 on Monday. The stock has a market capitalization of $1.67 billion, a PE ratio of 33.60 and a beta of 0.29. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.65. The business has a 50-day moving average of $14.65 and a 200 day moving average of $13.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.12 and a quick ratio of 5.12.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). The company had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Kimbell Royalty will post 1.04 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.64 annualized dividend and a yield of 10.6%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is currently 321.74%.

Kimbell Royalty announced that its Board of Directors has authorized a stock repurchase plan on Monday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the energy company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.