National Bank of Canada FI Has $289,000 Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

National Bank of Canada FI raised its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 36.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,968 shares of the energy company’s stock after buying an additional 4,830 shares during the quarter. National Bank of Canada FI’s holdings in Kimbell Royalty Partners were worth $289,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in Kimbell Royalty Partners by 1,509.0% during the 3rd quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock valued at $1,573,000 after purchasing an additional 91,672 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Kimbell Royalty Partners by 19.5% during the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock valued at $512,000 after acquiring an additional 5,190 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Kimbell Royalty Partners by 102.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock valued at $1,429,000 after acquiring an additional 44,320 shares in the last quarter. Raymond James & Associates raised its holdings in Kimbell Royalty Partners by 6.1% in the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock valued at $17,998,000 after acquiring an additional 64,678 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in shares of Kimbell Royalty Partners by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 196,794 shares of the energy company’s stock worth $3,220,000 after acquiring an additional 39,150 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KRP has been the subject of a number of recent research reports. KeyCorp cut 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. Truist Financial dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.40.

Kimbell Royalty Partners Price Performance

Kimbell Royalty Partners stock opened at $15.91 on Monday. The business has a 50 day simple moving average of $16.10 and a 200 day simple moving average of $16.16. Kimbell Royalty Partners, LP has a one year low of $14.26 and a one year high of $17.07. The company has a market capitalization of $1.52 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The company had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, sell-side analysts forecast that Kimbell Royalty Partners, LP will post 0.69 EPS 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 paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.31%. Kimbell Royalty Partners’s dividend payout ratio is 321.57%.

Insider Activity

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total value of $82,050.00. Following the completion of the transaction, the insider now directly owns 45,164 shares of the company’s stock, valued at $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

About Kimbell Royalty Partners