Vestcor Inc Sells 8,718 Shares of Kimbell Royalty (NYSE:KRP)

Vestcor Inc decreased its stake in shares of Kimbell Royalty (NYSE:KRP) by 3.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 215,635 shares of the energy company’s stock after selling 8,718 shares during the period. Vestcor Inc owned 0.20% of Kimbell Royalty worth $3,019,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Kimbell Royalty in the 4th quarter valued at about $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Kimbell Royalty by 14.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock valued at $10,511,000 after purchasing an additional 82,499 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Kimbell Royalty by 44.9% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 386,884 shares of the energy company’s stock valued at $5,416,000 after purchasing an additional 119,869 shares during the period. Orvieto Partners L.P. bought a new stake in Kimbell Royalty in the 4th quarter valued at about $6,103,000. Finally, First Trust Advisors LP boosted its holdings in Kimbell Royalty by 2.0% in the 4th quarter. First Trust Advisors LP now owns 344,227 shares of the energy company’s stock valued at $5,587,000 after purchasing an additional 6,867 shares during the period. Institutional investors own 25.78% of the company’s stock.

Insider Buying and Selling at Kimbell Royalty

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

Kimbell Royalty Trading Down 0.9%

NYSE:KRP opened at $14.92 on Thursday. The firm’s fifty day moving average is $13.94 and its 200-day moving average is $14.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.02 and a current ratio of 6.02. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $16.99. The firm has a market cap of $1.60 billion, a P/E ratio of 298.40 and a beta of 0.51.

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

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 20th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.60%. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, May 20th. Kimbell Royalty’s dividend payout ratio (DPR) is 3,760.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRP. KeyCorp cut their price objective on shares of Kimbell Royalty from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wall Street Zen raised shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Sunday, June 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.40.

Kimbell Royalty Company Profile