Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 5.5% in March

Kimbell Royalty Partners, LP (NYSE:KRP) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,340,000 shares, a growth of 5.5% from the March 15th total of 1,270,000 shares. Based on an average trading volume of 358,100 shares, the days-to-cover ratio is currently 3.7 days.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 22,327 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $15.68, for a total transaction of $350,087.36. Following the completion of the transaction, the director now owns 402,536 shares in the company, valued at approximately $6,311,764.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Brett G. Taylor sold 27,163 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total value of $421,298.13. Following the sale, the director now owns 299,030 shares of the company’s stock, valued at approximately $4,637,955.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brett G. Taylor sold 22,327 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $15.68, for a total value of $350,087.36. Following the completion of the sale, the director now directly owns 402,536 shares in the company, valued at approximately $6,311,764.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,672 shares of company stock worth $1,571,185. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KRP. T. Rowe Price Investment Management Inc. grew its stake in Kimbell Royalty Partners by 41.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,435,664 shares of the energy company’s stock valued at $40,676,000 after purchasing an additional 709,547 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kimbell Royalty Partners during the 3rd quarter worth about $7,105,000. Goldman Sachs Group Inc. boosted its stake in shares of Kimbell Royalty Partners by 61.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 947,292 shares of the energy company’s stock worth $14,854,000 after acquiring an additional 360,242 shares in the last quarter. First Financial Bankshares Inc bought a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth about $4,200,000. Finally, Marshall Wace LLP boosted its stake in shares of Kimbell Royalty Partners by 302.8% during the 4th quarter. Marshall Wace LLP now owns 363,371 shares of the energy company’s stock worth $6,068,000 after acquiring an additional 273,159 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KRP. Truist Financial dropped their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. TD Securities cut their target price on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Raymond James cut their target price on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, KeyCorp cut their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $20.86.

Kimbell Royalty Partners Stock Down 0.2 %

Shares of KRP stock traded down $0.03 on Wednesday, reaching $15.86. 213,059 shares of the company’s stock traded hands, compared to its average volume of 260,696. Kimbell Royalty Partners has a 12-month low of $14.02 and a 12-month high of $17.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 7.95 and a current ratio of 7.95. The company has a market capitalization of $1.50 billion, a P/E ratio of 17.24 and a beta of 1.08. The business’s 50 day moving average price is $15.60 and its two-hundred day moving average price is $15.48.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.13). Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. The business had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $83.89 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. On average, equities analysts forecast that Kimbell Royalty Partners will post 0.79 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th were paid a $0.43 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.72 dividend on an annualized basis and a yield of 10.84%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 186.96%.

Kimbell Royalty Partners Company Profile