Wesbanco Bank Inc. bought a new stake in shares of Kimbell Royalty (NYSE:KRP – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,000 shares of the energy company’s stock, valued at approximately $181,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Kimbell Royalty by 15.1% during the 1st quarter. American Century Companies Inc. now owns 2,542,362 shares of the energy company’s stock valued at $35,593,000 after acquiring an additional 334,009 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Kimbell Royalty by 604.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company’s stock valued at $23,683,000 after buying an additional 1,451,666 shares during the period. Ghisallo Capital Management LLC purchased a new stake in Kimbell Royalty during the 1st quarter valued at $10,150,000. Epoch Investment Partners Inc. raised its holdings in Kimbell Royalty by 222.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company’s stock valued at $9,414,000 after buying an additional 464,142 shares during the period. Finally, Energy Income Partners LLC raised its holdings in Kimbell Royalty by 231.4% during the 1st quarter. Energy Income Partners LLC now owns 585,969 shares of the energy company’s stock valued at $8,204,000 after buying an additional 409,175 shares during the period. 25.78% of the stock is currently owned by institutional investors.
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Kimbell Royalty Price Performance
Shares of KRP stock opened at $13.20 on Wednesday. Kimbell Royalty has a 1-year low of $10.98 and a 1-year high of $16.99. The stock’s 50-day moving average is $14.14 and its 200 day moving average is $13.62. The company has a market cap of $1.42 billion, a P/E ratio of -330.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.45 and a quick ratio of 5.45.
Kimbell Royalty (NYSE:KRP – Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. The company had revenue of $86.55 million for the quarter, compared to the consensus estimate of $79.77 million. During the same period in the previous year, the business earned $0.11 EPS. Kimbell Royalty’s revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.
Kimbell Royalty Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.52 dividend on an annualized basis and a yield of 11.5%. Kimbell Royalty’s dividend payout ratio (DPR) is presently -3,800.00%.
Analysts Set New Price Targets
Several research firms recently weighed in on KRP. KeyCorp decreased their price target on Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Zacks Research lowered Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Wall Street Zen lowered Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kimbell Royalty currently has an average rating of “Hold” and an average price target of $17.20.
View Our Latest Stock Report on Kimbell Royalty
Insiders Place Their Bets
In other Kimbell Royalty news, insider Blayne Rhynsburger sold 3,600 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $13.74, for a total value of $49,464.00. Following the completion of the sale, the insider owned 43,663 shares of the company’s stock, valued at approximately $599,929.62. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.
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