Arizona State Retirement System Sells 692 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Arizona State Retirement System decreased its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,574 shares of the energy company’s stock after selling 692 shares during the quarter. Arizona State Retirement System’s holdings in Kimbell Royalty Partners were worth $288,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at $43,000. International Assets Investment Management LLC purchased a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at $99,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Kimbell Royalty Partners in the 2nd quarter worth $180,000. Accel Wealth Management bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $196,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $199,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on KRP shares. Bank of America reissued an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a report on Friday, June 14th. Truist Financial increased their price objective on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kimbell Royalty Partners Stock Up 0.8 %

Shares of NYSE KRP opened at $15.84 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.68 and a quick ratio of 5.68. The company has a market cap of $1.51 billion, a P/E ratio of 26.39, a PEG ratio of 1.29 and a beta of 1.13. Kimbell Royalty Partners, LP has a 1 year low of $14.26 and a 1 year high of $17.11. The firm has a 50-day simple moving average of $16.04 and a two-hundred day simple moving average of $16.11.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $76.60 million during the quarter, compared to the consensus estimate of $81.19 million. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. Research analysts anticipate that Kimbell Royalty Partners, LP will post 0.99 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

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

Insider Transactions at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total transaction of $78,550.00. Following the transaction, the insider now directly owns 50,164 shares of the company’s stock, valued at $788,076.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Company Profile