Kimbell Royalty (NYSE:KRP) Sets New 12-Month High – Here’s What Happened

Shares of Kimbell Royalty (NYSE:KRP) reached a new 52-week high during trading on Monday . The company traded as high as $15.56 and last traded at $15.54, with a volume of 69366 shares. The stock had previously closed at $15.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Zacks Research cut shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Weiss Ratings raised shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Mizuho dropped their price target on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. KeyCorp raised shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research note on Thursday, April 2nd. Finally, 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 research note on Tuesday, March 31st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.33.

Kimbell Royalty Stock Performance

The company has a market capitalization of $1.68 billion, a PE ratio of 25.09, a PEG ratio of 2.66 and a beta of 0.29. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.72. The firm’s 50-day simple moving average is $14.53 and its 200-day simple moving average is $13.41.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Thursday, February 26th. The energy company reported $0.21 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.48) EPS. On average, research analysts predict that Kimbell Royalty will post 1 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The business 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. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $1.48 annualized dividend and a yield of 9.5%. Kimbell Royalty’s dividend payout ratio is presently 238.71%.

Kimbell Royalty announced that its board has initiated a stock repurchase plan on Monday, March 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the energy company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Kimbell Royalty

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 6,609 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 75,163 shares of the company’s stock, valued at $1,088,360.24. The trade was a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty

Several large investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in shares of Kimbell Royalty by 441.0% in the 1st quarter. Hsbc Holdings PLC now owns 84,476 shares of the energy company’s stock valued at $1,236,000 after purchasing an additional 68,861 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Kimbell Royalty by 9.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,569 shares of the energy company’s stock valued at $616,000 after purchasing an additional 3,782 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at about $175,000. Ascentis Independent Advisors bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at about $60,000. Finally, HB Wealth Management LLC bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at about $145,000. Institutional investors own 25.78% of the company’s stock.

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.