Kimbell Royalty Partners, LP (NYSE:KRP) Sees Large Decrease in Short Interest

Kimbell Royalty Partners, LP (NYSE:KRP) saw a large decrease in short interest in June. As of June 30th, there was short interest totalling 2,200,000 shares, a decrease of 6.0% from the June 15th total of 2,340,000 shares. Based on an average trading volume of 340,300 shares, the short-interest ratio is currently 6.5 days.

Insiders Place Their Bets

In other news, Director Brett G. Taylor sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $16.52, for a total value of $826,000.00. Following the completion of the sale, the director now owns 249,030 shares in the company, valued at approximately $4,113,975.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Board of Trustees of The Leland Stanford Junior University boosted its holdings in shares of Kimbell Royalty Partners by 148.1% in the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company’s stock valued at $1,680,000 after acquiring an additional 66,638 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Kimbell Royalty Partners by 1,540.0% in the fourth quarter. International Assets Investment Management LLC now owns 91,429 shares of the energy company’s stock valued at $1,376,000 after purchasing an additional 85,854 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in Kimbell Royalty Partners during the 4th quarter worth about $2,230,000. First Financial Bankshares Inc acquired a new stake in Kimbell Royalty Partners during the 4th quarter worth about $4,200,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kimbell Royalty Partners by 189.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after buying an additional 899,322 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Up 0.4 %

NYSE KRP traded up $0.07 during trading on Wednesday, hitting $16.78. The company’s stock had a trading volume of 177,604 shares, compared to its average volume of 349,535. The company has a market cap of $1.60 billion, a PE ratio of 28.08, a P/E/G ratio of 1.63 and a beta of 1.13. Kimbell Royalty Partners has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.48 and a quick ratio of 8.48. The business’s 50 day simple moving average is $16.53 and its 200-day simple moving average is $15.83.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 5.74% and a net margin of 12.93%. The company had revenue of $87.50 million for the quarter, compared to analyst estimates of $79.42 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 52.4% on a year-over-year basis. On average, equities analysts anticipate that Kimbell Royalty Partners will post 0.92 EPS for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 11.68%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 10th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 326.67%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KRP. Truist Financial decreased their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Bank of America reissued an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. Finally, KeyCorp lifted their price objective on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

About Kimbell Royalty Partners