Oppenheimer & Co. Inc. Has $1.43 Million Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Oppenheimer & Co. Inc. lifted its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 102.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,377 shares of the energy company’s stock after acquiring an additional 44,320 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.09% of Kimbell Royalty Partners worth $1,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of KRP. Ridgemont Partners Management LLC acquired a new stake in shares of Kimbell Royalty Partners in the second quarter worth $96,372,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kimbell Royalty Partners by 189.5% in the first 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 during the last quarter. First Financial Bankshares Inc acquired a new stake in Kimbell Royalty Partners during the fourth quarter worth $4,200,000. American Century Companies Inc. boosted its stake in Kimbell Royalty Partners by 20.9% during the second quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after buying an additional 260,332 shares in the last quarter. Finally, Mill Road Capital Management LLC boosted its stake in Kimbell Royalty Partners by 14.8% during the fourth quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after buying an additional 243,761 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Up 0.8 %

Shares of NYSE:KRP opened at $15.84 on Wednesday. Kimbell Royalty Partners, LP has a 52 week low of $14.26 and a 52 week high of $17.11. 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’s fifty day moving average is $16.04 and its 200-day moving average is $16.11. The company has a market capitalization of $1.51 billion, a PE ratio of 26.39, a P/E/G ratio of 1.29 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $81.19 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts predict that Kimbell Royalty Partners, LP will post 0.99 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.42 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.61%. Kimbell Royalty Partners’s dividend payout ratio is presently 280.00%.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the transaction, the insider now directly owns 50,164 shares of the company’s stock, valued at $788,076.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KRP has been the topic of a number of recent research reports. Bank of America reiterated an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Truist Financial lifted their price target on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given 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 target price of $21.00.

About Kimbell Royalty Partners