Vestcor Inc Reduces Stake in Kimbell Royalty $KRP

Vestcor Inc decreased its stake in shares of Kimbell Royalty (NYSE:KRP) by 54.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 76,773 shares of the energy company’s stock after selling 91,006 shares during the period. Vestcor Inc owned 0.07% of Kimbell Royalty worth $903,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Bridgewealth Advisory Group LLC boosted its position in shares of Kimbell Royalty by 5.7% during the 4th quarter. Bridgewealth Advisory Group LLC now owns 14,934 shares of the energy company’s stock valued at $176,000 after acquiring an additional 810 shares during the last quarter. Centaurus Financial Inc. boosted its position in shares of Kimbell Royalty by 5.0% during the 3rd quarter. Centaurus Financial Inc. now owns 17,999 shares of the energy company’s stock valued at $243,000 after acquiring an additional 852 shares during the last quarter. Ruggaard & Associates LLC boosted its position in shares of Kimbell Royalty by 8.1% during the 2nd quarter. Ruggaard & Associates LLC now owns 12,740 shares of the energy company’s stock valued at $178,000 after acquiring an additional 950 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Kimbell Royalty by 29.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock valued at $64,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Smith Moore & CO. boosted its position in shares of Kimbell Royalty by 5.2% during the 4th quarter. Smith Moore & CO. now owns 31,002 shares of the energy company’s stock valued at $365,000 after acquiring an additional 1,521 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Stock Performance

Shares of NYSE KRP opened at $15.55 on Tuesday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 33.79 and a beta of 0.29. The company has a current ratio of 5.12, a quick ratio of 5.12 and a debt-to-equity ratio of 0.77. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.65. The stock’s 50-day moving average is $14.86 and its 200 day moving average is $13.73.

Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings data on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.19). The firm had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. On average, sell-side analysts anticipate that Kimbell Royalty will post 0.97 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.6%. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s payout ratio is 356.52%.

Kimbell Royalty declared that its Board of Directors has approved a share buyback program on Monday, March 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the energy company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen downgraded Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Royal Bank Of Canada assumed coverage on Kimbell Royalty in a research report on Friday, May 29th. They set an “outperform” rating and a $20.00 price target for the company. Citigroup lifted their price target on Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Weiss Ratings downgraded Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Finally, Mizuho dropped their price target on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insider Buying and Selling at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 6,609 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,088,360.24. This trade represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

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.