Kimbell Royalty (NYSE:KRP) Insider Blayne Rhynsburger Sells 6,609 Shares

Kimbell Royalty (NYSE:KRP) insider Blayne Rhynsburger sold 6,609 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.48, for a total value of $95,698.32. Following the completion of the transaction, the insider directly owned 75,163 shares in the company, valued at approximately $1,088,360.24. The trade was a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Kimbell Royalty Stock Performance

NYSE:KRP opened at $14.66 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.64 and a quick ratio of 8.64. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 3.42 and a beta of 0.30. The firm’s fifty day moving average price is $13.87 and its 200 day moving average price is $13.20. Kimbell Royalty has a 1-year low of $10.98 and a 1-year high of $15.12.

Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, February 26th. The energy company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. The company had revenue of $82.45 million during the quarter, compared to analysts’ expectations of $76.78 million. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.48) EPS. On average, sell-side analysts expect that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty announced that its Board of Directors has authorized a share buyback plan on Monday, March 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 18th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $1.48 dividend on an annualized basis and a yield of 10.1%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s dividend payout ratio is presently 238.71%.

Wall Street Analyst Weigh In

Several analysts have recently commented on KRP shares. Zacks Research cut Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Weiss Ratings raised Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Citigroup increased their price objective on Kimbell Royalty from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Wall Street Zen downgraded Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Mizuho decreased their target price on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.67.

Institutional Investors Weigh In On Kimbell Royalty

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in shares of Kimbell Royalty by 151.0% in the 2nd quarter. SG Americas Securities LLC now owns 39,595 shares of the energy company’s stock worth $553,000 after acquiring an additional 23,820 shares during the period. Mirador Capital Partners LP raised its holdings in Kimbell Royalty by 279.5% during the third quarter. Mirador Capital Partners LP now owns 238,266 shares of the energy company’s stock worth $3,214,000 after purchasing an additional 175,480 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Kimbell Royalty by 200.9% during the second quarter. Beacon Pointe Advisors LLC now owns 129,243 shares of the energy company’s stock worth $1,804,000 after purchasing an additional 86,291 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Kimbell Royalty during the second quarter worth $944,000. Finally, First Financial Bankshares Inc boosted its position in Kimbell Royalty by 1,171.0% during the third quarter. First Financial Bankshares Inc now owns 227,922 shares of the energy company’s stock worth $3,075,000 after purchasing an additional 209,989 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

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.