Gabelli Funds LLC Sells 70,000 Shares of Kimbell Royalty $KRP

Gabelli Funds LLC reduced its holdings in shares of Kimbell Royalty (NYSE:KRP) by 29.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,000 shares of the energy company’s stock after selling 70,000 shares during the quarter. Gabelli Funds LLC’s holdings in Kimbell Royalty were worth $2,460,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Hilltop Holdings Inc. grew its position in Kimbell Royalty by 4.2% in the first quarter. Hilltop Holdings Inc. now owns 25,000 shares of the energy company’s stock valued at $362,000 after purchasing an additional 1,000 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Kimbell Royalty in the first quarter valued at about $7,405,000. Cetera Investment Advisers raised its holdings in Kimbell Royalty by 66.6% during the first quarter. Cetera Investment Advisers now owns 49,782 shares of the energy company’s stock worth $720,000 after acquiring an additional 19,901 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Kimbell Royalty by 96.8% during the first quarter. Bank of New York Mellon Corp now owns 25,288 shares of the energy company’s stock valued at $366,000 after purchasing an additional 12,436 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Kimbell Royalty by 441.0% during the first quarter. Hsbc Holdings PLC now owns 84,476 shares of the energy company’s stock valued at $1,236,000 after purchasing an additional 68,861 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Price Performance

NYSE:KRP opened at $14.79 on Thursday. The company has a market cap of $1.59 billion, a P/E ratio of 32.15 and a beta of 0.29. The firm’s fifty day moving average price is $14.91 and its two-hundred day moving average price is $14.44. Kimbell Royalty has a one year low of $11.31 and a one year high of $15.80. 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 (NYSE:KRP) last announced its earnings results on Thursday, May 7th. The energy company reported $0.04 EPS 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 the consensus estimate of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. Equities analysts expect that Kimbell Royalty will post 0.81 earnings per share for the current year.

Kimbell Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 11.1%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, May 19th. Kimbell Royalty’s dividend payout ratio is 356.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KRP. Weiss Ratings cut Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. KeyCorp raised 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 report on Thursday, April 2nd. Finally, Royal Bank Of Canada assumed coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price on the stock. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Kimbell Royalty presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Kimbell Royalty Company Profile

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.