Kimbell Royalty Partners, LP (NYSE:KRP) Shares Acquired by Carson Advisory Inc.

Carson Advisory Inc. grew its position in Kimbell Royalty Partners, LP (NYSE:KRP) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,850 shares of the energy company’s stock after purchasing an additional 3,059 shares during the period. Carson Advisory Inc.’s holdings in Kimbell Royalty Partners were worth $758,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KRP. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kimbell Royalty Partners by 189.5% in the first 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 purchasing an additional 899,322 shares during the period. First Financial Bankshares Inc acquired a new stake in Kimbell Royalty Partners during the fourth quarter worth about $4,200,000. Mill Road Capital Management LLC grew its holdings in Kimbell Royalty Partners by 14.8% during the fourth quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after acquiring an additional 243,761 shares during the period. Accordant Advisory Group Inc acquired a new stake in Kimbell Royalty Partners during the first quarter worth about $2,733,000. Finally, Westwood Holdings Group Inc. acquired a new stake in Kimbell Royalty Partners during the fourth quarter worth about $2,230,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America reaffirmed an “underperform” rating and set a $16.00 target price on shares of Kimbell Royalty Partners in a report on Friday, June 14th. KeyCorp increased their price target on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Truist Financial lowered their price target on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. 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 stock. According to MarketBeat.com, Kimbell Royalty Partners presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Kimbell Royalty Partners Trading Up 0.6 %

Shares of NYSE KRP traded up $0.09 during trading on Wednesday, reaching $16.87. The stock had a trading volume of 321,935 shares, compared to its average volume of 350,264. Kimbell Royalty Partners, LP 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 quick ratio of 8.48 and a current ratio of 8.48. The business’s 50-day moving average price is $16.47 and its 200-day moving average price is $15.78. The company has a market cap of $1.61 billion, a P/E ratio of 28.11, a PEG ratio of 1.89 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $79.42 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, equities research analysts predict that Kimbell Royalty Partners, LP will post 0.79 EPS 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. Investors of record on Monday, May 13th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 11.62%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s payout ratio is 326.67%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.52, for a total transaction of $826,000.00. Following the transaction, the director now owns 249,030 shares in the company, valued at approximately $4,113,975.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Partners Company Profile