Bessemer Group Inc. Makes New $29,000 Investment in Kimbell Royalty (NYSE:KRP)

Bessemer Group Inc. purchased a new position in shares of Kimbell Royalty (NYSE:KRP) during the first quarter, HoldingsChannel.com reports. The fund purchased 2,070 shares of the energy company’s stock, valued at approximately $29,000.

A number of other large investors also recently bought and sold shares of KRP. PNC Financial Services Group Inc. purchased a new position in Kimbell Royalty during the fourth quarter worth approximately $32,000. Lowe Wealth Advisors LLC purchased a new stake in Kimbell Royalty during the 1st quarter worth $34,000. GAMMA Investing LLC purchased a new stake in Kimbell Royalty during the 1st quarter worth $34,000. Jones Financial Companies Lllp increased its stake in Kimbell Royalty by 293.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after buying an additional 2,028 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in Kimbell Royalty during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Insider Activity at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 2,000 shares of Kimbell Royalty stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $13.27, for a total value of $26,540.00. Following the completion of the transaction, the insider directly owned 47,263 shares of the company’s stock, valued at approximately $627,180.01. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Price Performance

Shares of KRP stock opened at $14.15 on Friday. The firm has a market cap of $1.51 billion, a P/E ratio of 283.00, a P/E/G ratio of 6.96 and a beta of 0.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 6.02 and a quick ratio of 6.02. Kimbell Royalty has a 1-year low of $10.98 and a 1-year high of $17.07. The firm has a fifty day moving average of $13.43 and a two-hundred day moving average of $14.20.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, May 8th. The energy company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. Kimbell Royalty had a net margin of 5.25% and a return on equity of 9.69%. The business had revenue of $84.21 million during the quarter, compared to analyst estimates of $84.05 million. During the same period in the previous year, the business posted $0.04 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 20th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a dividend yield of 13.29%. Kimbell Royalty’s payout ratio is 3,760.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. KeyCorp dropped their price target on shares of Kimbell Royalty from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Royal Bank Of Canada raised shares of Kimbell Royalty to a “moderate buy” rating in a report on Friday, March 14th. Wall Street Zen raised shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Sunday, June 29th. Finally, Mizuho began coverage on shares of Kimbell Royalty in a report on Monday, March 31st. They set a “neutral” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.40.

About Kimbell Royalty