Kimbell Royalty $KRP Shares Sold by Orvieto Partners L.P.

Orvieto Partners L.P. lowered its position in Kimbell Royalty (NYSE:KRP) by 16.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 397,554 shares of the energy company’s stock after selling 79,939 shares during the period. Kimbell Royalty accounts for approximately 4.9% of Orvieto Partners L.P.’s portfolio, making the stock its 8th biggest holding. Orvieto Partners L.P. owned approximately 0.37% of Kimbell Royalty worth $5,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRP. Van ECK Associates Corp purchased a new stake in shares of Kimbell Royalty during the fourth quarter worth $6,604,000. Cubist Systematic Strategies LLC purchased a new position in shares of Kimbell Royalty in the second quarter worth about $5,445,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Kimbell Royalty by 32.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,210,948 shares of the energy company’s stock worth $14,241,000 after buying an additional 294,482 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Kimbell Royalty during the third quarter worth about $3,472,000. Finally, Marshall Wace LLP acquired a new position in Kimbell Royalty during the fourth quarter worth about $2,077,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Price Performance

Shares of KRP opened at $15.16 on Friday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 32.97 and a beta of 0.29. The firm’s fifty day simple moving average is $14.96 and its 200-day simple moving average is $14.36. Kimbell Royalty has a twelve month low of $11.31 and a twelve month high of $15.80. The company has a current ratio of 5.12, a quick ratio of 5.12 and a debt-to-equity ratio of 0.77.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, May 7th. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.19). The firm had revenue of $65.54 million for the quarter, compared to analyst estimates of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. Equities analysts forecast that Kimbell Royalty will post 0.81 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were paid a $0.41 dividend. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 10.8%. The ex-dividend date was Tuesday, May 19th. Kimbell Royalty’s payout ratio is currently 356.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KRP shares. Weiss Ratings lowered Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Citigroup lifted their price objective on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. KeyCorp raised Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada initiated coverage on Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Kimbell Royalty Company Profile

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.