GraniteShares Advisors LLC Sells 37,291 Shares of Kimbell Royalty $KRP

GraniteShares Advisors LLC reduced its position in Kimbell Royalty (NYSE:KRP) by 16.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 191,385 shares of the energy company’s stock after selling 37,291 shares during the quarter. Kimbell Royalty comprises about 2.0% of GraniteShares Advisors LLC’s portfolio, making the stock its 8th largest holding. GraniteShares Advisors LLC’s holdings in Kimbell Royalty were worth $2,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Kimbell Royalty by 9.2% during the 3rd quarter. American Century Companies Inc. now owns 3,026,429 shares of the energy company’s stock worth $40,827,000 after acquiring an additional 255,688 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Kimbell Royalty by 32.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,210,948 shares of the energy company’s stock valued at $14,241,000 after acquiring an additional 294,482 shares during the last quarter. UBS Group AG raised its position in Kimbell Royalty by 9.4% during the fourth quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock valued at $11,867,000 after purchasing an additional 86,957 shares in the last quarter. Energy Income Partners LLC lifted its stake in Kimbell Royalty by 12.3% during the third quarter. Energy Income Partners LLC now owns 647,396 shares of the energy company’s stock worth $8,733,000 after purchasing an additional 70,783 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. lifted its stake in 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 during the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Price Performance

KRP stock opened at $14.45 on Tuesday. The company has a market capitalization of $1.56 billion, a P/E ratio of 31.40 and a beta of 0.29. The company has a fifty day moving average price of $14.97 and a 200-day moving average price of $13.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12. Kimbell Royalty has a 52-week low of $11.31 and a 52-week high of $15.80.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings data on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). The business had revenue of $65.54 million during the quarter, compared to the consensus estimate of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. As a group, equities analysts expect that Kimbell Royalty will post 0.97 EPS for the current year.

Kimbell Royalty announced that its Board of Directors has authorized 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 buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend was Tuesday, May 19th. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is presently 356.52%.

Wall Street Analyst Weigh In

KRP has been the topic of several recent analyst reports. Weiss Ratings lowered Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research report on Thursday, April 2nd. Royal Bank Of Canada initiated coverage on Kimbell Royalty in a research note on Friday, May 29th. They issued an “outperform” rating and a $20.00 price objective on the stock. Wall Street Zen downgraded Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Citigroup increased their target price on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.