Freestone Capital Holdings LLC Invests $1.40 Million in Kimbell Royalty $KRP

Freestone Capital Holdings LLC purchased a new position in Kimbell Royalty (NYSE:KRP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 100,000 shares of the energy company’s stock, valued at approximately $1,396,000. Freestone Capital Holdings LLC owned 0.09% of Kimbell Royalty at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilltop National Bank purchased a new stake in Kimbell Royalty during the second quarter worth $42,000. Chilton Capital Management LLC acquired a new position in shares of Kimbell Royalty during the 1st quarter worth $44,000. MAI Capital Management raised its stake in shares of Kimbell Royalty by 4,300.0% during the 1st quarter. MAI Capital Management now owns 4,400 shares of the energy company’s stock worth $62,000 after buying an additional 4,300 shares during the last quarter. NCM Capital Management LLC purchased a new stake in shares of Kimbell Royalty in the 1st quarter worth about $151,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Kimbell Royalty in the 1st quarter valued at about $154,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KRP has been the subject of several recent research reports. Zacks Research upgraded shares of Kimbell Royalty from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Kimbell Royalty in a research note on Wednesday, October 8th. Wall Street Zen downgraded Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Finally, KeyCorp reduced their target price on Kimbell Royalty from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.20.

Kimbell Royalty Trading Down 0.7%

Shares of KRP stock opened at $13.14 on Tuesday. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a fifty-two week low of $10.98 and a fifty-two week high of $16.99. The firm’s 50 day moving average price is $13.47 and its two-hundred day moving average price is $13.63. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -328.53 and a beta of 0.45.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, August 7th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). The business had revenue of $86.55 million during the quarter, compared to analysts’ expectations of $79.77 million. Kimbell Royalty had a net margin of 10.67% and a return on equity of 12.56%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. On average, analysts anticipate that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date was Monday, August 18th. Kimbell Royalty’s payout ratio is currently -3,800.00%.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 3,600 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $13.74, for a total value of $49,464.00. Following the completion of the sale, the insider owned 43,663 shares in the company, valued at approximately $599,929.62. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Kimbell Royalty Company Profile