Luminus Management LLC Acquires Shares of 18,297 Kimbell Royalty Partners LP (KRP)

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Luminus Management LLC acquired a new position in Kimbell Royalty Partners LP (NYSE:KRP) during the third quarter, according to its most recent filing with the SEC. The firm acquired 18,297 shares of the energy company’s stock, valued at approximately $359,000.

Several other hedge funds have also modified their holdings of the company. Trustcore Financial Services LLC grew its position in shares of Kimbell Royalty Partners by 462.5% in the 3rd quarter. Trustcore Financial Services LLC now owns 11,250 shares of the energy company’s stock worth $221,000 after buying an additional 9,250 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Kimbell Royalty Partners in the 3rd quarter worth approximately $279,000. Raymond James & Associates bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter worth approximately $381,000. Renaissance Technologies LLC grew its position in shares of Kimbell Royalty Partners by 71.1% in the 3rd quarter. Renaissance Technologies LLC now owns 86,755 shares of the energy company’s stock worth $1,702,000 after buying an additional 36,040 shares during the last quarter. Finally, Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Kimbell Royalty Partners in the 3rd quarter worth approximately $883,000. Hedge funds and other institutional investors own 35.56% of the company’s stock.

A number of brokerages have recently weighed in on KRP. Zacks Investment Research upgraded Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Wednesday, October 17th. Stifel Nicolaus cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research note on Friday, November 9th. Finally, Credit Suisse Group started coverage on Kimbell Royalty Partners in a research note on Friday, December 7th. They issued a “neutral” rating and a $21.00 target price for the company. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.60.

In related news, Director Erik B. Daugbjerg acquired 7,500 shares of the stock in a transaction on Wednesday, November 28th. The stock was acquired at an average price of $16.65 per share, for a total transaction of $124,875.00. Following the completion of the purchase, the director now owns 13,478 shares of the company’s stock, valued at $224,408.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Adams III acquired 10,000 shares of the stock in a transaction on Monday, November 26th. The shares were bought at an average price of $16.88 per share, with a total value of $168,800.00. Following the purchase, the director now directly owns 22,654 shares of the company’s stock, valued at approximately $382,399.52. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 18,915 shares of company stock valued at $317,287. 14.20% of the stock is currently owned by company insiders.

KRP opened at $16.40 on Friday. The company has a market capitalization of $496.74 million, a PE ratio of 149.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.50 and a quick ratio of 5.50. Kimbell Royalty Partners LP has a 52 week low of $15.70 and a 52 week high of $24.50.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 8th. The energy company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.29). The firm had revenue of $18.41 million during the quarter, compared to analysts’ expectations of $22.48 million. Kimbell Royalty Partners had a negative net margin of 108.86% and a positive return on equity of 0.23%. As a group, research analysts expect that Kimbell Royalty Partners LP will post 0.16 earnings per share for the current fiscal year.

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About Kimbell Royalty Partners

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.

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Want to see what other hedge funds are holding KRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimbell Royalty Partners LP (NYSE:KRP).

Institutional Ownership by Quarter for Kimbell Royalty Partners (NYSE:KRP)

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