Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 7.3% in October

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 2,200,000 shares, a growth of 7.3% from the September 30th total of 2,050,000 shares. Based on an average daily trading volume, of 394,600 shares, the days-to-cover ratio is presently 5.6 days.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of the company’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 completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KRP. National Bank of Canada FI lifted its position in shares of Kimbell Royalty Partners by 5.5% in the 2nd quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock valued at $217,000 after acquiring an additional 685 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Kimbell Royalty Partners by 1.2% in the first quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock valued at $927,000 after purchasing an additional 700 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in shares of Kimbell Royalty Partners by 4.7% in the second quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after purchasing an additional 823 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Kimbell Royalty Partners by 6.6% in the second quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock worth $257,000 after buying an additional 974 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Kimbell Royalty Partners by 98.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after buying an additional 1,484 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kimbell Royalty Partners Price Performance

Shares of NYSE KRP traded up $0.02 during trading on Thursday, hitting $16.06. The company had a trading volume of 237,103 shares, compared to its average volume of 364,342. The company has a market cap of $1.53 billion, a P/E ratio of 26.63, a PEG ratio of 1.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. The business’s 50-day moving average is $15.91 and its 200 day moving average is $16.19. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The company had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. Equities research analysts predict that Kimbell Royalty Partners will post 0.74 earnings per share for the current fiscal year.

Kimbell Royalty Partners Company Profile