Kimbell Royalty Partners, LP (NYSE:KRP) Insider Sells $78,550.00 in Stock

Kimbell Royalty Partners, LP (NYSE:KRP) insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares in the company, valued at $788,076.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kimbell Royalty Partners Stock Up 0.3 %

Shares of KRP traded up $0.05 during midday trading on Wednesday, hitting $15.82. The stock had a trading volume of 298,213 shares, compared to its average volume of 364,313. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.48 and a quick ratio of 8.48. The company has a 50 day simple moving average of $16.45 and a two-hundred day simple moving average of $16.04. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 4.91%. Kimbell Royalty Partners’s revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. On average, analysts anticipate that Kimbell Royalty Partners, LP will post 1 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 12th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.62%. The ex-dividend date of this dividend is Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio is currently 280.00%.

Institutional Trading of Kimbell Royalty Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty Partners in the second quarter valued at approximately $25,000. Bridgewealth Advisory Group LLC acquired a new position in Kimbell Royalty Partners during the second quarter valued at approximately $165,000. AE Wealth Management LLC acquired a new position in Kimbell Royalty Partners during the second quarter valued at approximately $288,000. King Luther Capital Management Corp raised its position in Kimbell Royalty Partners by 7.3% during the second quarter. King Luther Capital Management Corp now owns 440,919 shares of the energy company’s stock valued at $7,213,000 after purchasing an additional 29,998 shares in the last quarter. Finally, Argent Trust Co acquired a new position in Kimbell Royalty Partners during the second quarter valued at approximately $176,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. KeyCorp raised their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Bank of America reaffirmed an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Finally, Truist Financial raised their price objective on Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

About Kimbell Royalty Partners