King Luther Capital Management Corp Raises Stake in Kimbell Royalty Partners, LP (NYSE:KRP)

King Luther Capital Management Corp boosted its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 7.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 440,919 shares of the energy company’s stock after buying an additional 29,998 shares during the period. King Luther Capital Management Corp’s holdings in Kimbell Royalty Partners were worth $7,213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KRP. Board of Trustees of The Leland Stanford Junior University increased its position in Kimbell Royalty Partners by 148.1% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company’s stock valued at $1,680,000 after purchasing an additional 66,638 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at $2,230,000. First Financial Bankshares Inc bought a new stake in shares of Kimbell Royalty Partners in the 4th quarter valued at about $4,200,000. SG Americas Securities LLC purchased a new position in shares of Kimbell Royalty Partners in the 2nd quarter worth approximately $1,227,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kimbell Royalty Partners by 189.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock worth $19,882,000 after acquiring an additional 899,322 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total transaction of $78,550.00. Following the sale, the insider now directly owns 50,164 shares in the company, valued at $788,076.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America reaffirmed an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. Truist Financial lifted their target price on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kimbell Royalty Partners Stock Up 0.4 %

KRP stock opened at $16.00 on Friday. Kimbell Royalty Partners, LP has a 12 month low of $14.26 and a 12 month high of $17.11. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.29 and a beta of 1.13. The firm has a 50-day moving average of $15.98 and a two-hundred day moving average of $16.11.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $76.60 million for the quarter, compared to analyst estimates of $81.19 million. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. Kimbell Royalty Partners’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, analysts forecast that Kimbell Royalty Partners, LP will post 0.99 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.50%. Kimbell Royalty Partners’s dividend payout ratio is presently 280.00%.

About Kimbell Royalty Partners