Kimbell Royalty (NYSE:KRP) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Kimbell Royalty (NYSE:KRP) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently commented on the stock. Zacks Research raised shares of Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. Weiss Ratings lowered shares of Kimbell Royalty from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, KeyCorp increased their price objective on shares of Kimbell Royalty from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Kimbell Royalty presently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

Kimbell Royalty Stock Performance

NYSE KRP traded up $0.10 during trading on Friday, reaching $15.54. 874,731 shares of the company’s stock were exchanged, compared to its average volume of 872,081. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.79 and a quick ratio of 7.30. The business has a 50 day moving average price of $15.39 and a 200-day moving average price of $14.87. The stock has a market capitalization of $1.78 billion, a P/E ratio of 20.18 and a beta of 0.38. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $17.12.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, November 5th. The energy company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). The business had revenue of $86.33 million for the quarter, compared to the consensus estimate of $104.41 million. Kimbell Royalty had a return on equity of 13.37% and a net margin of 25.39%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Sell-side analysts forecast that Kimbell Royalty will post 1.10 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.6%. This is a decrease from Kimbell Royalty’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, November 16th. Kimbell Royalty’s dividend payout ratio is 233.77%.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 4,524 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total value of $68,221.92. Following the completion of the sale, the insider directly owned 70,639 shares in the company, valued at $1,065,236.12. The trade was a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilltop Holdings Inc. boosted its holdings in shares of Kimbell Royalty by 4.2% during the 1st quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock valued at $362,000 after acquiring an additional 1,000 shares in the last quarter. Sunbelt Securities Inc. grew its position in Kimbell Royalty by 3.5% during the 1st quarter. Sunbelt Securities Inc. now owns 30,233 shares of the energy company’s stock worth $437,000 after acquiring an additional 1,017 shares during the last quarter. Evanson Financial LLC increased its holdings in Kimbell Royalty by 8.3% in the 3rd quarter. Evanson Financial LLC now owns 13,559 shares of the energy company’s stock worth $194,000 after purchasing an additional 1,043 shares in the last quarter. Arrow Investment Advisors LLC increased its holdings in Kimbell Royalty by 8.7% in the 3rd quarter. Arrow Investment Advisors LLC now owns 15,759 shares of the energy company’s stock worth $225,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in Kimbell Royalty by 2.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 51,111 shares of the energy company’s stock worth $730,000 after purchasing an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

Kimbell Royalty Partners, LP is a Fort Worth-based company that owns oil and natural gas mineral and royalty interests. It leases these interests to exploration and production companies and receives royalties when oil or natural gas is produced. The company’s portfolio spans producing areas across the United States, including major basins such as the Permian, Eagle Ford, Bakken, and Appalachian regions. Kimbell generally does not drill wells or operate production facilities itself; its revenue is tied to activity by the operators working on its properties.