Ghisallo Capital Management LLC Sells 237,500 Shares of Kimbell Royalty $KRP

Ghisallo Capital Management LLC lessened its holdings in shares of Kimbell Royalty (NYSE:KRP) by 65.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,000 shares of the energy company’s stock after selling 237,500 shares during the period. Ghisallo Capital Management LLC owned about 0.12% of Kimbell Royalty worth $1,686,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Kimbell Royalty in the second quarter valued at approximately $5,445,000. American Century Companies Inc. grew its position in Kimbell Royalty by 9.2% during the third quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock worth $40,827,000 after buying an additional 255,688 shares in the last quarter. First Financial Bankshares Inc increased its stake in Kimbell Royalty by 1,171.0% during the 3rd quarter. First Financial Bankshares Inc now owns 227,922 shares of the energy company’s stock worth $3,075,000 after acquiring an additional 209,989 shares during the period. Mirador Capital Partners LP increased its stake in Kimbell Royalty by 279.5% during the 3rd quarter. Mirador Capital Partners LP now owns 238,266 shares of the energy company’s stock worth $3,214,000 after acquiring an additional 175,480 shares during the period. Finally, HRT Financial LP acquired a new position in Kimbell Royalty in the 2nd quarter valued at $1,737,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Price Performance

Shares of NYSE:KRP opened at $14.72 on Friday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 3.64 and a beta of 0.30. 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 50 day simple moving average of $13.49 and a 200 day simple moving average of $13.17. Kimbell Royalty has a one year low of $10.98 and a one year high of $15.12.

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 analysts’ consensus estimates of $0.14 by $0.07. The firm had revenue of $82.45 million for the quarter, compared to analyst estimates of $76.78 million. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) earnings per share. Research analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty declared that its Board of Directors has initiated a share repurchase program on Monday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the energy company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 18th will be issued a dividend of $0.37 per share. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $1.48 annualized dividend and a dividend yield of 10.1%. Kimbell Royalty’s dividend payout ratio (DPR) is 225.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KRP shares. Weiss Ratings upgraded Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 2nd. Mizuho dropped their price target on 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 reaffirmed a “sector weight” rating on shares of Kimbell Royalty in a research report on Monday, November 24th. 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 raised their target price on shares of Kimbell Royalty from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.