Russell Investments Group Ltd. Buys 33,254 Shares of Kimbell Royalty $KRP

Russell Investments Group Ltd. boosted its stake in Kimbell Royalty (NYSE:KRP) by 476.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,229 shares of the energy company’s stock after buying an additional 33,254 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kimbell Royalty were worth $585,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KRP. UBS Group AG lifted its holdings in shares of Kimbell Royalty by 9.4% during the fourth quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock valued at $11,867,000 after acquiring an additional 86,957 shares during the period. Gabelli Funds LLC grew 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 worth $2,822,000 after purchasing an additional 77,500 shares during the last quarter. GraniteShares Advisors LLC grew 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 worth $2,689,000 after purchasing an additional 39,510 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Kimbell Royalty during the 1st quarter valued at about $7,405,000. Finally, Pingora Partners LLC lifted its holdings in Kimbell Royalty by 267.0% during the 4th quarter. Pingora Partners LLC now owns 98,076 shares of the energy company’s stock valued at $1,153,000 after purchasing an additional 71,350 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Stock Down 0.3%

Shares of NYSE KRP opened at $15.06 on Friday. The firm’s 50-day simple moving average is $14.86 and its 200 day simple moving average is $14.64. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 17.93 and a beta of 0.30. The company has a quick ratio of 5.12, a current ratio of 7.30 and a debt-to-equity ratio of 0.71. Kimbell Royalty has a 12-month low of $11.31 and a 12-month high of $15.80.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17. The firm had revenue of $112.48 million during the quarter, compared to analysts’ expectations of $93.45 million. Kimbell Royalty had a net margin of 27.17% and a return on equity of 14.95%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. On average, research analysts expect that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 12.5%. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, August 17th. Kimbell Royalty’s payout ratio is currently 195.24%.

Analysts Set New Price Targets

Several analysts have weighed in on KRP shares. Royal Bank Of Canada began coverage on shares of Kimbell Royalty in a research note on Friday, May 29th. They set an “outperform” rating and a $20.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Kimbell Royalty in a research note on Tuesday. Zacks Research downgraded Kimbell Royalty from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kimbell Royalty currently has a consensus rating of “Hold” and an average price target of $18.00.

Kimbell Royalty 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.