Ghisallo Capital Management LLC Has $1.69 Million Stock Holdings in Kimbell Royalty $KRP

Ghisallo Capital Management LLC lowered its position in Kimbell Royalty (NYSE:KRP) by 65.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 125,000 shares of the energy company’s stock after selling 237,500 shares during the quarter. Ghisallo Capital Management LLC’s holdings in Kimbell Royalty were worth $1,686,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KRP. Cubist Systematic Strategies LLC acquired a new stake in Kimbell Royalty during the 2nd quarter worth approximately $5,445,000. American Century Companies Inc. grew its holdings in 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 last quarter. First Financial Bankshares Inc increased its position in Kimbell Royalty by 1,171.0% in the 3rd quarter. First Financial Bankshares Inc now owns 227,922 shares of the energy company’s stock valued at $3,075,000 after acquiring an additional 209,989 shares during the period. Mirador Capital Partners LP raised its stake in shares of Kimbell Royalty by 279.5% during the third quarter. Mirador Capital Partners LP now owns 238,266 shares of the energy company’s stock valued at $3,214,000 after acquiring an additional 175,480 shares during the last quarter. Finally, HRT Financial LP bought a new position in shares of Kimbell Royalty during the second quarter valued at $1,737,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Trading Up 1.4%

NYSE KRP opened at $14.72 on Friday. The stock has a market capitalization of $1.59 billion, a P/E ratio of 23.73, a P/E/G ratio of 3.64 and a beta of 0.30. The business has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $13.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.64 and a quick ratio of 8.64. 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 quarterly earnings results 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 firm had revenue of $82.45 million for the quarter, compared to analyst estimates of $76.78 million. Kimbell Royalty had a return on equity of 13.73% and a net margin of 26.43%.The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.48) earnings per share. Research analysts expect that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 18th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date is Wednesday, March 18th. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s dividend payout ratio is presently 225.81%.

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 purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on KRP shares. Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Citigroup raised their target price on Kimbell Royalty from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho cut their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Wall Street Zen lowered Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Zacks Research cut Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Kimbell Royalty presently has a consensus rating of “Hold” and an average price target of $16.67.

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.