Van ECK Associates Corp Has $52.71 Million Stake in Kimbell Royalty $KRP

Van ECK Associates Corp lifted its position in Kimbell Royalty (NYSE:KRP) by 329.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,627,850 shares of the energy company’s stock after buying an additional 2,783,040 shares during the quarter. Van ECK Associates Corp’s holdings in Kimbell Royalty were worth $52,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. acquired a new stake in Kimbell Royalty in the 2nd quarter valued at about $8,432,000. First Bancorp Inc ME bought a new stake in Kimbell Royalty in the second quarter valued at approximately $90,000. Oxbow Advisors LLC bought a new stake in Kimbell Royalty in the second quarter valued at approximately $5,928,000. Plato Investment Management Ltd acquired a new stake in shares of Kimbell Royalty in the second quarter valued at approximately $151,000. Finally, Chase Investment Counsel Corp bought a new position in shares of Kimbell Royalty during the 2nd quarter worth approximately $507,000. 25.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. 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 target price for the company. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Zacks Research downgraded Kimbell Royalty from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Insider Activity

In related news, insider Blayne Rhynsburger sold 4,524 shares of Kimbell Royalty stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $15.08, for a total transaction of $68,221.92. Following the sale, the insider directly owned 70,639 shares of the company’s stock, valued at approximately $1,065,236.12. The trade was a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Trading Down 2.2%

Shares of NYSE:KRP opened at $14.90 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30. Kimbell Royalty has a 1 year low of $11.31 and a 1 year high of $15.80. The company has a market capitalization of $1.71 billion, a P/E ratio of 17.74 and a beta of 0.30. The business’s 50 day simple moving average is $14.87 and its 200 day simple moving average is $14.76.

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

Kimbell Royalty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, August 17th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.41. This represents a $1.88 annualized dividend and a yield of 12.6%. Kimbell Royalty’s payout ratio is presently 223.81%.

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.