Ruggaard & Associates LLC Takes $170,000 Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Ruggaard & Associates LLC purchased a new stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 10,490 shares of the energy company’s stock, valued at approximately $170,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. increased its stake in Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock worth $35,842,000 after acquiring an additional 294,789 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $30,449,000. King Luther Capital Management Corp lifted its position in Kimbell Royalty Partners by 0.5% during the fourth quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock valued at $7,192,000 after purchasing an additional 2,200 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Kimbell Royalty Partners by 18.2% in the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company’s stock worth $4,619,000 after buying an additional 43,852 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Kimbell Royalty Partners by 38.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock worth $4,334,000 after acquiring an additional 74,098 shares during the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the sale, the insider now directly owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KRP. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Mizuho began coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They issued a “neutral” rating and a $16.00 target price on the stock. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Bank of America lowered their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.80.

Kimbell Royalty Partners Stock Performance

Shares of NYSE:KRP opened at $12.40 on Friday. Kimbell Royalty Partners, LP has a 12 month low of $12.25 and a 12 month high of $17.07. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $14.74 and a 200-day moving average price of $15.57.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 12.90%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently -1,454.55%.

About Kimbell Royalty Partners