Pingora Partners LLC Boosts Stake in Kimbell Royalty $KRP

Pingora Partners LLC raised its holdings in Kimbell Royalty (NYSE:KRP) by 267.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,076 shares of the energy company’s stock after purchasing an additional 71,350 shares during the quarter. Pingora Partners LLC owned 0.09% of Kimbell Royalty worth $1,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of Kimbell Royalty by 9.4% in the 4th quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock valued at $11,867,000 after buying an additional 86,957 shares during the period. Gabelli Funds LLC raised its holdings in shares of Kimbell Royalty by 47.7% in the 4th quarter. Gabelli Funds LLC now owns 240,000 shares of the energy company’s stock valued at $2,822,000 after buying an additional 77,500 shares during the period. Nordea Investment Management AB raised its holdings in shares of Kimbell Royalty by 18.3% in the 4th quarter. Nordea Investment Management AB now owns 220,716 shares of the energy company’s stock valued at $2,585,000 after buying an additional 34,175 shares during the period. GraniteShares Advisors LLC raised its holdings in shares of Kimbell Royalty by 20.9% in the 4th quarter. GraniteShares Advisors LLC now owns 228,676 shares of the energy company’s stock valued at $2,689,000 after buying an additional 39,510 shares during the period. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Kimbell Royalty by 81.7% in the 4th quarter. Freestone Capital Holdings LLC now owns 181,693 shares of the energy company’s stock valued at $2,137,000 after buying an additional 81,693 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KRP shares. Citigroup boosted their price objective on Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Royal Bank Of Canada started coverage on Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price objective on the stock. KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a report on Thursday, April 2nd. Weiss Ratings downgraded Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 14th. Finally, Mizuho cut their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity

In other news, insider Blayne Rhynsburger sold 6,609 shares of the company’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 completion of the transaction, the insider directly owned 75,163 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Price Performance

Shares of NYSE KRP opened at $15.31 on Monday. The stock’s 50-day moving average is $14.93 and its two-hundred day moving average is $13.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.12 and a quick ratio of 5.12. Kimbell Royalty has a 1-year low of $11.31 and a 1-year high of $15.80. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 33.27 and a beta of 0.29.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). The company had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.Kimbell Royalty’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. Analysts forecast that Kimbell Royalty will post 0.97 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 10.7%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s payout ratio is currently 356.52%.

Kimbell Royalty declared that its board has initiated a stock buyback program on Monday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the energy company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board 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.