KIMBELL ROYALTY’s (NYSE:KRP) lock-up period will end on Wednesday, August 2nd. KIMBELL ROYALTY had issued 5,000,000 shares in its initial public offering on February 3rd. The total size of the offering was $90,000,000 based on an initial share price of $18.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $19.00 target price on shares of KIMBELL ROYALTY and gave the stock a “buy” rating in a research note on Friday. Imperial Capital initiated coverage on shares of KIMBELL ROYALTY in a research report on Tuesday. They set an “outperform” rating and a $20.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price target on shares of KIMBELL ROYALTY in a research report on Monday, July 24th. Finally, Zacks Investment Research raised shares of KIMBELL ROYALTY from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $21.80.
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KIMBELL ROYALTY (NYSE:KRP) opened at 15.84 on Friday. The firm has a 50-day moving average of $16.06 and a 200 day moving average of $18.25. The stock’s market capitalization is $258.70 million. KIMBELL ROYALTY has a 52 week low of $15.06 and a 52 week high of $20.89.
KIMBELL ROYALTY (NYSE:KRP) last released its earnings results on Thursday, August 10th. The energy company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The firm had revenue of $7.75 million during the quarter, compared to the consensus estimate of $7.87 million. On average, analysts anticipate that KIMBELL ROYALTY will post $0.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.58%.
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 Mitch S. Wynne bought 2,000 shares of KIMBELL ROYALTY stock in a transaction on Thursday, June 22nd. The shares were acquired at an average price of $16.19 per share, for a total transaction of $32,380.00. Following the completion of the acquisition, the director now owns 22,637 shares of the company’s stock, valued at approximately $366,493.03. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 11,459 shares of company stock valued at $183,572.
A number of hedge funds and other institutional investors have recently bought and sold shares of KRP. Royal Bank of Canada acquired a new position in KIMBELL ROYALTY during the second quarter valued at $164,000. Stifel Financial Corp acquired a new position in KIMBELL ROYALTY during the first quarter valued at $241,000. Hollow Brook Wealth Management LLC acquired a new position in KIMBELL ROYALTY during the second quarter valued at $210,000. Raymond James Financial Services Advisors Inc. acquired a new position in KIMBELL ROYALTY during the second quarter valued at $312,000. Finally, King Luther Capital Management Corp acquired a new position in KIMBELL ROYALTY during the first quarter valued at $912,000. Hedge funds and other institutional investors own 20.48% of the company’s stock.
KIMBELL ROYALTY Company Profile
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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