Northwestern Mutual Wealth Management Co. Buys 1,484 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Northwestern Mutual Wealth Management Co. increased its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 98.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,984 shares of the energy company’s stock after acquiring an additional 1,484 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Kimbell Royalty Partners were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KRP. SG Americas Securities LLC bought a new stake in shares of Kimbell Royalty Partners during the second quarter worth $1,227,000. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $19,882,000 after purchasing an additional 899,322 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $1,032,000. Oppenheimer & Co. Inc. raised its stake in shares of Kimbell Royalty Partners by 102.9% during the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock worth $1,429,000 after buying an additional 44,320 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in Kimbell Royalty Partners by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 196,794 shares of the energy company’s stock valued at $3,220,000 after buying an additional 39,150 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Up 0.7 %

Shares of NYSE:KRP opened at $16.44 on Friday. The company has a 50 day moving average price of $15.84 and a two-hundred day moving average price of $16.18. 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 company has a market capitalization of $1.57 billion, a PE ratio of 27.40, a PEG ratio of 1.65 and a beta of 1.13. Kimbell Royalty Partners, LP has a 52 week low of $14.26 and a 52 week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The firm had revenue of $76.60 million during the quarter, compared to the consensus estimate of $81.19 million. During the same quarter in the prior year, the company earned $0.23 EPS. Kimbell Royalty Partners’s quarterly revenue was up 26.0% on a year-over-year basis. Analysts forecast that Kimbell Royalty Partners, LP will post 0.83 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 10.22%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 280.00%.

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their target price on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. One investment 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the transaction, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is owned by insiders.

About Kimbell Royalty Partners