Kimbell Royalty (NYSE:KRP) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Kimbell Royalty (NYSE:KRP) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $15.38 and traded as high as $15.49. Kimbell Royalty shares last traded at $15.4490, with a volume of 848,339 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on KRP. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. KeyCorp boosted their price target on Kimbell Royalty from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Wall Street Zen raised shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research raised shares of Kimbell Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.25.

Kimbell Royalty Stock Performance

The stock has a market capitalization of $1.77 billion, a P/E ratio of 20.06 and a beta of 0.38. The company’s fifty day simple moving average is $15.38 and its two-hundred day simple moving average is $14.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 7.30 and a current ratio of 3.79.

Kimbell Royalty (NYSE:KRP) last announced its earnings results on Thursday, November 5th. The energy company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The firm 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%. Kimbell Royalty’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. As a group, equities analysts forecast that Kimbell Royalty will post 1.10 EPS for the current year.

Kimbell Royalty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, November 16th. This is a drop from Kimbell Royalty’s previous quarterly dividend of $0.47. This represents a $1.80 dividend on an annualized basis and a dividend yield of 11.7%. Kimbell Royalty’s dividend payout ratio (DPR) is presently 244.16%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Kimbell Royalty

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in Kimbell Royalty by 329.4% during the second quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company’s stock worth $52,713,000 after buying an additional 2,783,040 shares in the last quarter. Royal Bank of Canada lifted its position in Kimbell Royalty by 32.0% during the first quarter. Royal Bank of Canada now owns 596,687 shares of the energy company’s stock worth $8,634,000 after purchasing an additional 144,644 shares during the period. Pin Oak Investment Advisors Inc. bought a new position in Kimbell Royalty in the 2nd quarter valued at about $8,432,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Kimbell Royalty in the 1st quarter valued at approximately $7,405,000. Finally, Oxbow Advisors LLC bought a new stake in shares of Kimbell Royalty during the 2nd quarter worth approximately $5,928,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

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.