Raymond James Financial Services Advisors Inc. Acquires Shares of 18,551 KIMBELL ROYALTY (KRP)
Raymond James Financial Services Advisors Inc. acquired a new stake in KIMBELL ROYALTY (NYSE:KRP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,551 shares of the energy company’s stock, valued at approximately $312,000. Raymond James Financial Services Advisors Inc. owned approximately 0.11% of KIMBELL ROYALTY at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada bought a new position in shares of KIMBELL ROYALTY in the second quarter valued at $164,000. Hollow Brook Wealth Management LLC bought a new position in shares of KIMBELL ROYALTY in the second quarter valued at $210,000. Goldman Sachs Group Inc. bought a new position in shares of KIMBELL ROYALTY in the first quarter valued at $999,000. King Luther Capital Management Corp lifted its stake 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 buying an additional 5,765 shares in the last quarter. Finally, Lucas Capital Management lifted its stake 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 buying an additional 4,131 shares in the last quarter. 18.42% of the stock is currently owned by hedge funds and other institutional investors.
KIMBELL ROYALTY (NYSE KRP) opened at $16.87 on Thursday. 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 has a 12-month low of $15.06 and a 12-month high of $20.89.
KIMBELL ROYALTY (NYSE:KRP) last released its quarterly earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.06). The company had revenue of $7.75 million for the quarter, compared to the consensus estimate of $7.87 million. research analysts expect that KIMBELL ROYALTY will post 0.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be given a dividend of $0.31 per share. This is a positive change from KIMBELL ROYALTY’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend is Friday, November 3rd.
A number of research firms have weighed in on KRP. Stifel Nicolaus set a $19.00 price objective on shares of KIMBELL ROYALTY and gave the company a “buy” rating in a research note on Friday, August 18th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $19.00 price objective on shares of KIMBELL ROYALTY in a research note on Tuesday. Zacks Investment Research lowered shares of KIMBELL ROYALTY from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Imperial Capital began coverage on shares of 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 reaffirmed an “overweight” rating and issued a $22.00 price objective (down from $24.00) on shares of KIMBELL ROYALTY in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.33.
KIMBELL ROYALTY Company 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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