King Luther Capital Management Corp Sells 63,507 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

King Luther Capital Management Corp reduced its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 12.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 433,921 shares of the energy company’s stock after selling 63,507 shares during the period. King Luther Capital Management Corp owned about 0.46% of Kimbell Royalty Partners worth $6,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of KRP. Teacher Retirement System of Texas lifted its stake in shares of Kimbell Royalty Partners by 4.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,303 shares of the energy company’s stock worth $261,000 after acquiring an additional 628 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Kimbell Royalty Partners by 16.0% during the 3rd quarter. Bahl & Gaynor Inc. now owns 14,500 shares of the energy company’s stock worth $232,000 after acquiring an additional 2,000 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Kimbell Royalty Partners by 12.7% during the 3rd quarter. Arizona State Retirement System now owns 18,502 shares of the energy company’s stock worth $296,000 after acquiring an additional 2,083 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Kimbell Royalty Partners by 25.2% during the 3rd quarter. Jump Financial LLC now owns 53,954 shares of the energy company’s stock worth $863,000 after acquiring an additional 10,845 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Kimbell Royalty Partners by 13.2% during the 3rd quarter. Barclays PLC now owns 11,909 shares of the energy company’s stock worth $191,000 after acquiring an additional 1,386 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

Insider Activity

In related 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 transaction, the director now directly owns 402,536 shares in the company, valued at approximately $6,311,764.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Brett G. Taylor sold 5,480 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $15.55, for a total transaction of $85,214.00. Following the transaction, the director now directly owns 343,082 shares in the company, valued at approximately $5,334,925.10. The sale was disclosed in a document filed with the SEC, 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 transaction, the director now owns 402,536 shares in the company, valued at $6,311,764.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,672 shares of company stock worth $2,397,185. 5.60% of the stock is currently owned by company insiders.

Kimbell Royalty Partners Stock Up 0.6 %

Shares of NYSE:KRP traded up $0.10 on Thursday, reaching $16.60. The company had a trading volume of 66,161 shares, compared to its average volume of 356,312. Kimbell Royalty Partners, LP has a 52-week low of $14.02 and a 52-week high of $17.11. The firm’s 50 day simple moving average is $15.98 and its 200-day simple moving average is $15.50. The firm has a market capitalization of $1.59 billion, a PE ratio of 27.50 and a beta of 1.07. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.74%. The company had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $79.42 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 52.4% compared to the same quarter last year. As a group, analysts expect that Kimbell Royalty Partners, LP will post 0.92 earnings per share for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.81%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 326.67%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Raymond James decreased their price target on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. TD Securities reduced their price objective on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Truist Financial reduced their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, KeyCorp raised their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kimbell Royalty Partners currently has a consensus rating of “Buy” and a consensus price target of $21.00.

About Kimbell Royalty Partners