Raymond James Financial Services Advisors Inc. bought a new stake in shares of Kimbell Royalty (NYSE:KRP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 18,551 shares of the energy company’s stock, valued at approximately $312,000. Raymond James Financial Services Advisors Inc. owned about 0.11% of Kimbell Royalty as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new position in shares of Kimbell Royalty during the 2nd quarter worth about $164,000. Hollow Brook Wealth Management LLC acquired a new position in shares of Kimbell Royalty during the 2nd quarter worth about $210,000. King Luther Capital Management Corp boosted its stake in shares of Kimbell Royalty by 12.3% during the 2nd quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock worth $884,000 after buying an additional 5,765 shares during the last quarter. Lucas Capital Management boosted its stake in shares of Kimbell Royalty by 8.3% during the 2nd quarter. Lucas Capital Management now owns 54,131 shares of the energy company’s stock worth $911,000 after buying an additional 4,131 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Kimbell Royalty during the 1st quarter worth about $999,000. Institutional investors and hedge funds own 21.32% of the company’s stock.
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Shares of Kimbell Royalty (KRP) opened at $17.00 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.23 and a quick ratio of 5.23. Kimbell Royalty has a 52-week low of $15.06 and a 52-week high of $20.89.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date was Friday, November 3rd. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.30.
Several equities research analysts recently issued reports on KRP shares. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 price target on shares of Kimbell Royalty in a report on Monday, July 24th. Zacks Investment Research cut shares of Kimbell Royalty from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Stifel Nicolaus set a $19.00 target price on shares of Kimbell Royalty and gave the stock a “buy” rating in a report on Friday, August 18th. Stephens reaffirmed an “overweight” rating and set a $22.00 target price (down from $24.00) on shares of Kimbell Royalty in a report on Wednesday, August 23rd. Finally, Imperial Capital assumed coverage on shares of Kimbell Royalty in a report on Tuesday, August 15th. They set an “outperform” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Kimbell Royalty presently has an average rating of “Buy” and an average target price of $21.33.
About Kimbell Royalty
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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