Accordant Advisory Group Inc Acquires 12,199 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Accordant Advisory Group Inc increased its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,706 shares of the energy company’s stock after purchasing an additional 12,199 shares during the quarter. Kimbell Royalty Partners makes up 2.5% of Accordant Advisory Group Inc’s portfolio, making the stock its 11th biggest holding. Accordant Advisory Group Inc owned approximately 0.20% of Kimbell Royalty Partners worth $3,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRP. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kimbell Royalty Partners by 189.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock worth $19,882,000 after purchasing an additional 899,322 shares in the last quarter. Carson Advisory Inc. boosted its stake in Kimbell Royalty Partners by 6.7% during the first quarter. Carson Advisory Inc. now owns 48,850 shares of the energy company’s stock valued at $758,000 after buying an additional 3,059 shares during the last quarter. Freestone Capital Holdings LLC increased its stake in Kimbell Royalty Partners by 16.8% in the 1st quarter. Freestone Capital Holdings LLC now owns 286,128 shares of the energy company’s stock worth $4,441,000 after acquiring an additional 41,134 shares during the last quarter. Energy Income Partners LLC raised its holdings in shares of Kimbell Royalty Partners by 32.5% during the 1st quarter. Energy Income Partners LLC now owns 170,098 shares of the energy company’s stock worth $2,640,000 after acquiring an additional 41,725 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Kimbell Royalty Partners by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock valued at $927,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Price Performance

KRP stock opened at $16.18 on Wednesday. The stock has a market cap of $1.55 billion, a PE ratio of 26.97, a P/E/G ratio of 1.65 and a beta of 1.13. Kimbell Royalty Partners, LP has a 12 month low of $14.26 and a 12 month high of $17.11. The company has a 50-day moving average price of $15.89 and a 200 day moving average price of $16.20. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter last year, the firm earned $0.23 EPS. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts anticipate that Kimbell Royalty Partners, LP will post 0.83 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.42 per share. The ex-dividend date was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.38%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 280.00%.

Insider Activity

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the transaction, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

KRP has been the topic of a number of recent research reports. Truist Financial decreased their price target on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. KeyCorp decreased their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kimbell Royalty Partners has an average rating of “Moderate Buy” and a consensus target price of $20.50.

About Kimbell Royalty Partners