Nordea Investment Management AB Grows Stock Holdings in Kimbell Royalty $KRP

Nordea Investment Management AB grew its position in Kimbell Royalty (NYSE:KRP) by 18.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 220,716 shares of the energy company’s stock after acquiring an additional 34,175 shares during the period. Nordea Investment Management AB’s holdings in Kimbell Royalty were worth $2,585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in Kimbell Royalty during the 3rd quarter valued at about $3,472,000. Centaurus Financial Inc. increased its stake in Kimbell Royalty by 5.0% during the third quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock worth $243,000 after purchasing an additional 852 shares during the period. Sunbelt Securities Inc. increased its stake in Kimbell Royalty by 344.9% during the third quarter. Sunbelt Securities Inc. now owns 28,699 shares of the energy company’s stock worth $387,000 after purchasing an additional 22,249 shares during the period. Pin Oak Investment Advisors Inc. lifted its position in shares of Kimbell Royalty by 0.9% during the third quarter. Pin Oak Investment Advisors Inc. now owns 618,128 shares of the energy company’s stock worth $8,339,000 after purchasing an additional 5,213 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Kimbell Royalty by 6.2% during the third quarter. National Bank of Canada FI now owns 33,828 shares of the energy company’s stock worth $456,000 after purchasing an additional 1,960 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 75,163 shares in the company, valued at approximately $1,088,360.24. This trade represents a 8.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Stock Performance

Shares of Kimbell Royalty stock opened at $14.71 on Friday. Kimbell Royalty has a one year low of $10.98 and a one year high of $15.12. The company has a market cap of $1.59 billion, a PE ratio of 23.72, a P/E/G ratio of 3.45 and a beta of 0.30. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.64 and a current ratio of 8.64. The business has a 50-day simple moving average of $14.00 and a 200-day simple moving average of $13.23.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the company earned ($0.48) earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, equities research analysts forecast that Kimbell Royalty will post 0.65 EPS for the current fiscal year.

Kimbell Royalty declared that its board has approved a stock repurchase 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 buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 18th were given a $0.37 dividend. 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 10.1%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s payout ratio is currently 238.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KRP. Weiss Ratings upgraded shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a 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 on the stock in a report on Friday, February 27th. Zacks Research cut shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Citigroup upped 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. One 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 currently has a consensus rating of “Hold” and a consensus price target of $16.67.

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.