AlphaCore Capital LLC Grows Position in Kimbell Royalty $KRP

AlphaCore Capital LLC grew its holdings in shares of Kimbell Royalty (NYSE:KRP - Free Report) by 18.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,420 shares of the energy company's stock after purchasing an additional 37,750 shares during the quarter. AlphaCore Capital LLC owned about 0.22% of Kimbell Royalty worth $3,314,000 at the end of the most recent reporting period.

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Several other large investors have also recently modified their holdings of KRP. Wedbush Securities Inc. lifted its stake in shares of Kimbell Royalty by 1.7% during the 2nd quarter. Wedbush Securities Inc. now owns 42,325 shares of the energy company's stock valued at $591,000 after buying an additional 711 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Kimbell Royalty by 4.7% during the 2nd quarter. Apollon Wealth Management LLC now owns 19,863 shares of the energy company's stock valued at $277,000 after acquiring an additional 895 shares during the period. Ruggaard & Associates LLC raised its holdings in Kimbell Royalty by 12.4% during the 1st quarter. Ruggaard & Associates LLC now owns 11,790 shares of the energy company's stock valued at $165,000 after acquiring an additional 1,300 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Kimbell Royalty by 11.8% during the second quarter. Teacher Retirement System of Texas now owns 12,548 shares of the energy company's stock worth $175,000 after acquiring an additional 1,322 shares in the last quarter. Finally, Highlander Partners L.P. lifted its position in shares of Kimbell Royalty by 8.4% during the second quarter. Highlander Partners L.P. now owns 22,000 shares of the energy company's stock worth $307,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Analyst Upgrades and Downgrades

KRP has been the topic of a number of analyst reports. Zacks Research upgraded Kimbell Royalty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Kimbell Royalty in a report on Wednesday, October 8th. Wall Street Zen upgraded Kimbell Royalty from a "hold" rating to a "buy" rating in a research report on Saturday, November 15th. Finally, KeyCorp lowered their price target on shares of Kimbell Royalty from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Kimbell Royalty has a consensus rating of "Hold" and a consensus price target of $17.20.

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Read Our Latest Stock Analysis on Kimbell Royalty

Kimbell Royalty Stock Performance

NYSE:KRP opened at $13.24 on Friday. The business has a 50 day moving average of $13.35 and a 200 day moving average of $13.71. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -189.14 and a beta of 0.45. Kimbell Royalty has a 1-year low of $10.98 and a 1-year high of $16.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.39 and a quick ratio of 5.39.

Kimbell Royalty (NYSE:KRP - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $80.62 million for the quarter, compared to analysts' expectations of $82.68 million. Kimbell Royalty had a net margin of 10.66% and a return on equity of 12.51%. The business's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.22 earnings per share. On average, sell-side analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.40 annualized dividend and a yield of 10.6%. Kimbell Royalty's payout ratio is currently -2,000.00%.

Insiders Place Their Bets

In other Kimbell Royalty news, insider Blayne Rhynsburger sold 3,600 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $13.74, for a total transaction of $49,464.00. Following the completion of the sale, the insider directly owned 43,663 shares in the company, valued at $599,929.62. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.60% of the stock is owned by corporate insiders.

Kimbell Royalty Company Profile

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