Kimbell Royalty Partners, LP (NYSE:KRP) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 16.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,973 shares of the energy company’s stock after acquiring an additional 2,778 shares during the quarter. Arizona State Retirement System’s holdings in Kimbell Royalty Partners were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. AlphaCore Capital LLC grew its holdings in shares of Kimbell Royalty Partners by 0.5% in the 3rd quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock worth $2,378,000 after acquiring an additional 675 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at $32,000. Jones Financial Companies Lllp grew its holdings in shares of Kimbell Royalty Partners by 293.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after buying an additional 2,028 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Kimbell Royalty Partners by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock valued at $1,801,000 after buying an additional 2,066 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Kimbell Royalty Partners by 7.1% during the fourth quarter. Venturi Wealth Management LLC now owns 31,600 shares of the energy company’s stock valued at $513,000 after buying an additional 2,100 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KRP. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Bank of America lowered their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, March 4th. Finally, Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd.

Kimbell Royalty Partners Price Performance

KRP opened at $14.02 on Friday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners, LP has a 1 year low of $13.24 and a 1 year high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $15.30 and a 200 day moving average price of $15.73.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.42%. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

About Kimbell Royalty Partners