Swiss National Bank Buys Additional Kimbell Royalty Partner Shares
Swiss National Bank has increased its position in Kimbell Royalty Partners by 12.5% during the fourth quarter, according to a recent Form 13F filing with the Securities & Exchange Commission. The Swiss bank now owns approximately 130,000 shares of the energy company’s stock after purchasing an additional 14,400 shares in Q4 alone. Swiss National Bank’s current holding is worth roughly $2,171,000 and represents about 0.20% of the total value of Kimbell Royalty Partners.
Kimbell Royalty Partners (NYSE:KRP) recently exceeded analyst expectations with earnings per share for Q1 reaching $0.36 compared to estimates of around $0.15. It generated revenue of $66.9 million during Q1 compared to expected revenue of $53.1 million – clearly outperforming analyst predictions.
Despite some market speculation and dropped target prices from Stifel Nicolas sales experts on April 12th reducing their predicted KRP price down to $18 from $22; Raymond James gave KRP a positive outlook stating strong-buy factors on April 14th boosting KRP target price up to $21.
The stock has an average rating of “Buy” according to analysts at Bloomberg, addressing the potential for near term growth evident by both the last quarter’s earnings and updated sales recommendations indicating some promising outcomes for the company looking ahead.
Sell-side analysts have forecasted that Kimbell Royalty Partners LP will post around approximately $0.93 earnings per share for this fiscal year as investors wait eagerly for quarterly updates in coming months confident in steady progress so far this year.
Institutional Investors Increase Holdings in Kimbell Royalty Partners, LP (KRP) while Analysts Suggest it is a ‘Buy’ Opportunity
Kimbell Royalty Partners, LP (KRP) has recently seen a number of institutional investors modify their holdings in the company. Epoch Investment Partners Inc. acquired a new stake in KRP shares in the third quarter of 2017, while Goldman Sachs Group Inc. lifted its holdings by 61.4% in the second quarter of that year. Renaissance Technologies LLC also lifted its holdings by 55.8% in the first quarter of 2017, and JPMorgan Chase & Co lifted its holdings by 458.3% during Q2. As a result, institutional investors and hedge funds reportedly now own 47.51% of KRP’s stock.
Following these changes, KRP has opened at $15.20 per share on Friday, with a market capitalization of $1.22 billion and a price-to-earnings ratio of 7.68.The firm boasts a beta of 1.35, as well as a current ratio and quick ratio both standing at 7.13, despite having a debt-to-equity ratio of just 0.4.
According to various equity research analysts, KRP’s stock may be worth buying: Stifel Nicolaus rates it as “buy” on the back of having cut their target price from $22 to $18 per share; Raymond James have raised their estimates from $19 to $21 per share and stated that they consider it “strong-buy”. Data from Bloomberg shows that out of all current ratings for KRP’s stock it is currently an average “Buy” rating with an average target price sitting at approximately $21.
KRP also announced recently that it will pay a quarterly dividend; shareholders were paid on Monday, May 22nd with an annual dividend payout equating to $1.40 per share or around 9.21%. However, this payment does represent over half (70.71%) of DPR for KRP at this time.
On an insider level, Blayne Rhynsburger, who held 56,191 shares of KRP stock, valued at approximately $851,293.65 at the current rate, has recently sold off a portion of this in a transaction dated March 10th. The trades occurred before subsequent institutional investments raised stock prices; insider sales such as these could be viewed as a red flag by some investors and may lead to questions regarding their impact. Currently however, corporate insiders hold 5.6% of the company’s stock meaning it will take substantial insider selling to breach any shareholder rights thresholds but recent ones have had no effects due to lack of volume transacted.
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