Short Interest in Kimbell Royalty (NYSE:KRP) Drops By 15.0%

Kimbell Royalty (NYSE:KRP) was the recipient of a large decrease in short interest during the month of 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. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 865,907 shares, the days-to-cover ratio is currently 1.8 days.

Insiders Place Their Bets

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s 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 completion of the transaction, the insider owned 75,163 shares of the company’s stock, valued at approximately $1,088,360.24. This trade represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty

Institutional investors have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in Kimbell Royalty in the third quarter valued at approximately $62,000. EverSource Wealth Advisors LLC raised its stake in Kimbell Royalty by 29.8% during 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 during the period. Marex Group plc acquired a new position in shares of Kimbell Royalty in the 4th quarter valued at $118,000. Westwood Holdings Group Inc. purchased a new stake in shares of Kimbell Royalty during the 2nd quarter valued at $140,000. Finally, Tableaux LLC purchased a new stake in shares of Kimbell Royalty during the 4th quarter valued at $120,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Trading Down 2.6%

Shares of KRP stock traded down $0.39 during mid-day trading on Tuesday, hitting $14.45. 856,670 shares of the company’s stock were exchanged, compared to its average volume of 718,500. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 3.47 and a beta of 0.30. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a fifty-two week low of $10.98 and a fifty-two week high of $15.12. The stock has a 50-day simple moving average of $14.05 and a two-hundred day simple moving average of $13.23.

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

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 18th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.2%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s dividend payout ratio is currently 238.71%.

Kimbell Royalty declared that its Board of Directors has authorized a stock buyback program on Monday, March 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the energy company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

KRP has been the subject of a number of recent research reports. Mizuho dropped their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Zacks Research lowered shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Wall Street Zen cut shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Citigroup lifted their price target on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.33.

About Kimbell Royalty

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.