FORT WORTH, Texas—Rhynsburger Blayne, the Controller at Kimbell Royalty Partners, LP (NYSE:), has sold 5,000 common units of the company, according to a recent SEC filing. The shares were sold on November 12 at a price of $16.41 each, totaling $82,050. Following this transaction, Blayne holds 45,164 shares directly. This sale was documented in a Form 4 filing submitted to the Securities and Exchange Commission.
In other recent news, Kimbell Royalty Partners reported robust Q3 2024 results, including a cash distribution of $0.41 per common unit and a significant increase in net drilled but uncompleted wells, primarily in the Permian Basin. The company’s Q3 revenues reached $71.1 million, with net income around $25.8 million, and adjusted EBITDA at $63.1 million. Kimbell also announced plans to redeem at least half of the Apollo Preferred Stock by May 2025.
The management team of Kimbell Royalty Partners expressed optimism about ongoing development, especially in the Permian Basin and potential activity in the Appalachian Basin. However, the company also expressed caution about competitive dynamics and balance sheet impact when considering smaller acquisitions under $5 million.
Kimbell Royalty Partners further emphasized its strategic focus on capital deployment in the Permian Basin and exploring opportunities in less competitive areas like the Appalachian Basin. These developments are part of the company’s recent activities and strategic focus on growth through strategic acquisitions and production development.
InvestingPro Insights
The recent sale by Kimbell Royalty Partners’ Controller comes at a time when the company’s stock is trading near its 52-week high, with a price that is 95.72% of its peak. This positioning aligns with an InvestingPro Tip highlighting that KRP is indeed trading close to its yearly high, potentially indicating investor confidence in the company’s performance.
Despite the insider sale, KRP continues to offer a significant dividend yield of 10.04%, which is particularly noteworthy in the current market environment. This high yield is supported by another InvestingPro Tip, which points out that KRP has maintained dividend payments for 8 consecutive years, demonstrating a commitment to shareholder returns.
From a financial perspective, KRP boasts impressive gross profit margins, with the latest data showing a gross profit margin of 93.18% for the last twelve months as of Q3 2024. This exceptional profitability metric underscores the company’s efficiency in managing its royalty business model.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips that could provide deeper insights into KRP’s financial health and market position. These tips, along with real-time metrics, can be valuable tools for making informed investment decisions in the oil and gas royalty sector.
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