Requisite Capital Management LLC Invests $705,000 in Kimbell Royalty $KRP

Requisite Capital Management LLC purchased a new position in shares of Kimbell Royalty (NYSE:KRP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 59,990 shares of the energy company’s stock, valued at approximately $705,000. Requisite Capital Management LLC owned approximately 0.06% of Kimbell Royalty at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its position in Kimbell Royalty by 18.3% during the 4th quarter. Nordea Investment Management AB now owns 220,716 shares of the energy company’s stock worth $2,585,000 after buying an additional 34,175 shares during the period. GraniteShares Advisors LLC boosted its position in Kimbell Royalty by 20.9% during the 4th quarter. GraniteShares Advisors LLC now owns 228,676 shares of the energy company’s stock worth $2,689,000 after buying an additional 39,510 shares during the period. Freestone Capital Holdings LLC boosted its position in Kimbell Royalty by 81.7% during the 4th quarter. Freestone Capital Holdings LLC now owns 181,693 shares of the energy company’s stock worth $2,137,000 after buying an additional 81,693 shares during the period. Truist Financial Corp boosted its position in Kimbell Royalty by 53.6% during the 3rd quarter. Truist Financial Corp now owns 120,363 shares of the energy company’s stock worth $1,624,000 after buying an additional 42,002 shares during the period. Finally, UBS Group AG boosted its position in Kimbell Royalty by 9.4% during the 4th quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock worth $11,867,000 after buying an additional 86,957 shares during the period. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Blayne Rhynsburger sold 6,609 shares of the company’s stock in a transaction 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 owned 75,163 shares in the company, valued at $1,088,360.24. This represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Stock Performance

NYSE KRP opened at $15.45 on Monday. Kimbell Royalty has a 1 year low of $11.31 and a 1 year high of $15.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.12 and a quick ratio of 5.12. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 33.60 and a beta of 0.29. The company has a fifty day moving average price of $14.65 and a 200-day moving average price of $13.53.

Kimbell Royalty (NYSE:KRP) last posted its earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.19). Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The firm had revenue of $65.54 million during the quarter, compared to the consensus estimate of $90.25 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Kimbell Royalty will post 1.04 EPS for the current fiscal year.

Kimbell Royalty announced that its board has initiated a stock buyback program on Monday, March 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the energy company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Tuesday, May 19th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is currently 321.74%.

Wall Street Analyst Weigh In

Several research firms recently commented on KRP. Citigroup lifted their target price on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Zacks Research downgraded shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd. KeyCorp upgraded shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Thursday, April 2nd. Weiss Ratings lowered shares of Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Mizuho lowered their price objective on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Kimbell Royalty has a consensus rating of “Hold” and a consensus target price of $17.33.

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.