Kimbell Royalty (NYSE:KRP) announced its quarterly earnings data on Thursday. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.06, Morningstar.com reports. The firm had revenue of $7.75 million during the quarter, compared to analyst estimates of $7.87 million.
Shares of Kimbell Royalty (NYSE KRP) opened at 15.54 on Friday. Kimbell Royalty has a 12 month low of $15.06 and a 12 month high of $20.89. The firm’s market capitalization is $253.80 million. The stock’s 50 day moving average price is $16.11 and its 200-day moving average price is $18.36.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date of this dividend is Thursday, August 3rd.
In other Kimbell Royalty news, Director William H. Adams III bought 4,772 shares of Kimbell Royalty stock in a transaction on Friday, June 23rd. The shares were purchased at an average cost of $15.87 per share, for a total transaction of $75,731.64. Following the completion of the acquisition, the director now owns 5,072 shares in the company, valued at approximately $80,492.64. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brett G. Taylor bought 4,687 shares of Kimbell Royalty stock in a transaction on Wednesday, June 21st. The shares were acquired at an average price of $16.10 per share, for a total transaction of $75,460.70. Following the completion of the acquisition, the director now owns 23,646 shares of the company’s stock, valued at approximately $380,700.60. The disclosure for this purchase can be found here. Insiders bought a total of 11,459 shares of company stock worth $183,572 over the last 90 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lucas Capital Management acquired a new position in Kimbell Royalty during the first quarter valued at $975,000. HITE Hedge Asset Management LLC acquired a new position in Kimbell Royalty during the first quarter valued at $2,194,000. Stifel Financial Corp acquired a new position in Kimbell Royalty during the first quarter valued at $241,000. Wellington Management Group LLP acquired a new position in Kimbell Royalty during the first quarter valued at $13,766,000. Finally, FMR LLC acquired a new position in Kimbell Royalty during the first quarter valued at $17,094,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research raised Kimbell Royalty from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Royal Bank Of Canada boosted their target price on Kimbell Royalty from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $22.75.
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About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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