Kimbell Royalty (NYSE:KRP) Reaches New 52-Week High – Here’s Why

Shares of Kimbell Royalty (NYSE:KRP) reached a new 52-week high during trading on Monday . The stock 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 Ratings Changes

KRP has been the topic of several recent analyst reports. KeyCorp raised shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Zacks Research downgraded shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Mizuho reduced their price target on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Finally, Wall Street Zen downgraded shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Kimbell Royalty presently has a consensus rating of “Hold” and an average price target of $17.33.

Kimbell Royalty Stock Down 5.4%

The firm has a market capitalization of $1.57 billion, a P/E ratio of 23.52, a PEG ratio of 2.65 and a beta of 0.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.64 and a current ratio of 8.64. The business’s fifty day moving average price is $14.56 and its two-hundred day moving average price is $13.44.

Kimbell Royalty (NYSE:KRP) last released its quarterly 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. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The business had revenue of $82.45 million for the quarter, compared to analysts’ expectations of $76.78 million. During the same period last year, the business earned ($0.48) EPS. The company’s revenue was up 23.7% compared to the same quarter last year. Equities analysts expect that Kimbell Royalty will post 1 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 18th were issued a $0.37 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.1%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s dividend payout ratio (DPR) is 238.71%.

Kimbell Royalty announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 6,609 shares of Kimbell Royalty stock in a transaction that occurred on 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 in the company, valued at $1,088,360.24. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is owned by company insiders.

Institutional Trading of Kimbell Royalty

A number of institutional investors have recently bought and sold shares of KRP. Royal Bank of Canada boosted its stake in Kimbell Royalty by 32.6% in the 1st quarter. Royal Bank of Canada now owns 371,582 shares of the energy company’s stock worth $5,202,000 after purchasing an additional 91,263 shares in the last quarter. Jane Street Group LLC acquired a new stake in Kimbell Royalty in the 1st quarter worth approximately $297,000. Legal & General Group Plc boosted its stake in Kimbell Royalty by 17.2% in the 2nd quarter. Legal & General Group Plc now owns 67,890 shares of the energy company’s stock worth $948,000 after purchasing an additional 9,987 shares in the last quarter. First Trust Advisors LP boosted its stake in Kimbell Royalty by 8.6% in the 2nd quarter. First Trust Advisors LP now owns 464,829 shares of the energy company’s stock worth $6,489,000 after purchasing an additional 36,803 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Kimbell Royalty in the 2nd quarter worth approximately $1,220,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Company Profile

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.