SG Americas Securities LLC Sells 46,832 Shares of Kimbell Royalty $KRP

SG Americas Securities LLC trimmed its stake in Kimbell Royalty (NYSE:KRP) by 76.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,679 shares of the energy company’s stock after selling 46,832 shares during the period. SG Americas Securities LLC’s holdings in Kimbell Royalty were worth $173,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KRP. Royal Bank of Canada lifted its stake in shares of Kimbell Royalty by 32.6% in the 1st quarter. Royal Bank of Canada now owns 371,582 shares of the energy company’s stock valued at $5,202,000 after purchasing an additional 91,263 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Kimbell Royalty in the 1st quarter valued at approximately $297,000. Legal & General Group Plc raised its holdings in shares of Kimbell Royalty by 17.2% in the second quarter. Legal & General Group Plc now owns 67,890 shares of the energy company’s stock worth $948,000 after buying an additional 9,987 shares during the period. First Trust Advisors LP raised its holdings in shares of Kimbell Royalty by 8.6% in the second quarter. First Trust Advisors LP now owns 464,829 shares of the energy company’s stock worth $6,489,000 after buying an additional 36,803 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Kimbell Royalty in the second quarter worth approximately $1,220,000. 25.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KRP. Citigroup increased their price target on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Mizuho reduced their price target on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a report on Thursday, April 2nd. Wall Street Zen downgraded Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings upgraded Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.33.

Insider Buying and Selling

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.48, for a total transaction of $95,698.32. Following the transaction, 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 SEC, which is available through the SEC website. 5.60% of the stock is owned by insiders.

Kimbell Royalty Trading Up 1.4%

KRP opened at $14.44 on Friday. The stock’s fifty day moving average is $14.41 and its two-hundred day moving average is $13.32. The company has a market capitalization of $1.56 billion, a P/E ratio of 23.29, a PEG ratio of 2.63 and a beta of 0.29. Kimbell Royalty has a 52 week low of $11.31 and a 52 week high of $15.12. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Thursday, February 26th. The energy company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. The company had revenue of $82.45 million for the quarter, compared to the consensus estimate of $76.78 million. Kimbell Royalty had a return on equity of 13.73% and a net margin of 26.43%.Kimbell Royalty’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the business posted ($0.48) EPS. Analysts forecast that Kimbell Royalty will post 0.65 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 18th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 10.3%. The ex-dividend date was Wednesday, March 18th. 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 declared that its board has approved a stock repurchase program on Monday, March 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the energy company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

About Kimbell Royalty

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.