Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Update

Kimbell Royalty Partners, LP (NYSE:KRP) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,770,000 shares, a drop of 13.7% from the October 31st total of 2,050,000 shares. Based on an average daily trading volume, of 414,800 shares, the short-interest ratio is presently 4.3 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp lowered their target price on shares of 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. Truist Financial lowered their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kimbell Royalty Partners has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $16.19 on Tuesday. The company has a market cap of $1.55 billion, a P/E ratio of 31.75, a PEG ratio of 1.99 and a beta of 1.13. The company has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $16.21. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 12-month low of $14.26 and a 12-month high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. Sell-side analysts predict that Kimbell Royalty Partners will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 10.13%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now owns 45,164 shares in the company, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KRP. EverSource Wealth Advisors LLC bought a new stake in Kimbell Royalty Partners in the 2nd quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after acquiring an additional 1,484 shares during the period. Godsey & Gibb Inc. grew its stake in Kimbell Royalty Partners by 62.9% during the third quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock valued at $66,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Kimbell Royalty Partners during the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile