Kimbell Royalty (NYSE:KRP) Stock Price Down 3.3% – What’s Next?

Shares of Kimbell Royalty (NYSE:KRP) dropped 3.3% during mid-day trading on Monday . The stock traded as low as $12.82 and last traded at $12.8170. Approximately 177,570 shares changed hands during trading, a decline of 73% from the average daily volume of 654,234 shares. The stock had previously closed at $13.25.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KRP. Zacks Research raised Kimbell Royalty from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kimbell Royalty in a research report on Wednesday, October 8th. KeyCorp reiterated a “sector weight” rating on shares of Kimbell Royalty in a research note on Monday. Finally, Wall Street Zen raised Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $17.20.

Kimbell Royalty Stock Down 1.2%

The company has a market capitalization of $1.31 billion, a PE ratio of -173.84 and a beta of 0.45. The company has a current ratio of 5.39, a quick ratio of 5.39 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $13.33 and a two-hundred day simple moving average of $13.73.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The firm had revenue of $80.62 million during the quarter, compared to the consensus estimate of $82.68 million. Kimbell Royalty had a return on equity of 12.51% and a net margin of 10.66%.The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. Research analysts expect that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend was Monday, November 17th. Kimbell Royalty’s dividend payout ratio is currently -2,000.00%.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 3,600 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $13.74, for a total transaction of $49,464.00. Following the completion of the transaction, the insider directly owned 43,663 shares of the company’s stock, valued at approximately $599,929.62. This represents a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KRP. Nordea Investment Management AB grew its stake in shares of Kimbell Royalty by 60.3% during the 2nd quarter. Nordea Investment Management AB now owns 183,024 shares of the energy company’s stock worth $2,544,000 after purchasing an additional 68,854 shares during the period. Truist Financial Corp increased its holdings in Kimbell Royalty by 233.0% in the second quarter. Truist Financial Corp now owns 78,361 shares of the energy company’s stock valued at $1,094,000 after buying an additional 54,829 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in shares of Kimbell Royalty during the 1st quarter valued at approximately $6,300,000. Epoch Investment Partners Inc. lifted its position in shares of Kimbell Royalty by 222.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company’s stock valued at $9,414,000 after acquiring an additional 464,142 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Kimbell Royalty by 604.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company’s stock worth $23,683,000 after acquiring an additional 1,451,666 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty