FMR LLC boosted its position in Kimbell Royalty (NYSE:KRP) by 7.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940,182 shares of the energy company’s stock after buying an additional 63,550 shares during the period. FMR LLC owned approximately 5.76% of Kimbell Royalty worth $15,823,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of KRP. Hollow Brook Wealth Management LLC bought a new stake in Kimbell Royalty during the 2nd quarter worth approximately $210,000. Stifel Financial Corp bought a new position in shares of Kimbell Royalty in the first quarter valued at approximately $241,000. King Luther Capital Management Corp grew its holdings in shares of Kimbell Royalty by 12.3% in the second quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock valued at $884,000 after acquiring an additional 5,765 shares in the last quarter. Lucas Capital Management grew its holdings in shares of Kimbell Royalty by 8.3% in the second quarter. Lucas Capital Management now owns 54,131 shares of the energy company’s stock valued at $911,000 after acquiring an additional 4,131 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Kimbell Royalty in the first quarter valued at approximately $999,000. 18.42% of the stock is owned by institutional investors and hedge funds.
Kimbell Royalty (NYSE KRP) traded down $0.08 during trading on Friday, hitting $16.92. 3,800 shares of the stock traded hands, compared to its average volume of 31,446. Kimbell Royalty has a 52-week low of $15.06 and a 52-week high of $20.89. The company has a current ratio of 8.07, a quick ratio of 8.07 and a debt-to-equity ratio of 0.07.
Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, August 10th. The energy company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.06). The company had revenue of $7.75 million during the quarter, compared to analyst estimates of $7.87 million. sell-side analysts anticipate that Kimbell Royalty will post 0.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend is Friday, November 3rd. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.30.
Several research firms have recently issued reports on KRP. Stifel Nicolaus set a $19.00 target price on Kimbell Royalty and gave the company a “buy” rating in a report on Friday, August 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $19.00 price objective on shares of Kimbell Royalty in a research note on Tuesday. Zacks Investment Research downgraded Kimbell Royalty from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Imperial Capital assumed coverage on Kimbell Royalty in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Stephens restated an “overweight” rating and set a $22.00 target price (down previously from $24.00) on shares of Kimbell Royalty in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.33.
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Kimbell Royalty Profile
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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