Chase Investment Counsel Corp Makes New $507,000 Investment in Kimbell Royalty $KRP

Chase Investment Counsel Corp bought a new position in shares of Kimbell Royalty (NYSE:KRP) during the 2nd quarter, Holdings Channel reports. The firm bought 34,959 shares of the energy company’s stock, valued at approximately $507,000.

A number of other institutional investors have also made changes to their positions in the business. Bridgewealth Advisory Group LLC lifted its position in Kimbell Royalty by 5.7% during the 4th quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company’s stock worth $176,000 after buying an additional 810 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Kimbell Royalty by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 193,021 shares of the energy company’s stock worth $2,270,000 after acquiring an additional 840 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of Kimbell Royalty by 5.0% in the third quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock worth $243,000 after acquiring an additional 852 shares during the last quarter. Ruggaard & Associates LLC lifted its position in shares of Kimbell Royalty by 8.1% during the second quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company’s stock worth $178,000 after purchasing an additional 950 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its position in shares of Kimbell Royalty by 4.2% during the first quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock worth $362,000 after purchasing an additional 1,000 shares in the last quarter. 25.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KRP. Royal Bank Of Canada began coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price target for the company. Zacks Research lowered Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Kimbell Royalty in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Kimbell Royalty Trading Down 0.2%

Shares of NYSE KRP opened at $15.06 on Monday. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $15.80. The firm has a market capitalization of $1.73 billion, a P/E ratio of 17.93 and a beta of 0.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30. The company’s 50 day simple moving average is $14.86 and its 200 day simple moving average is $14.65.

Kimbell Royalty (NYSE:KRP) last released its earnings results on Friday, August 7th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. The firm had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. On average, analysts predict that Kimbell Royalty will post 0.81 EPS for the current year.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 12.5%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, August 17th. Kimbell Royalty’s dividend payout ratio (DPR) is 195.24%.

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.