12,152 Shares in Kimbell Royalty Partners, LP (NYSE:KRP) Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,152 shares of the energy company’s stock, valued at approximately $199,000.

Several other institutional investors have also modified their holdings of the stock. Ridgemont Partners Management LLC bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter worth about $96,372,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 purchasing an additional 899,322 shares during the last quarter. First Financial Bankshares Inc bought a new stake in Kimbell Royalty Partners in the fourth quarter worth about $4,200,000. Mill Road Capital Management LLC boosted its position in shares of 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 valued at $28,381,000 after buying an additional 243,761 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $2,230,000. 25.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Truist Financial raised their price target on Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Bank of America reiterated an “underperform” rating and set a $16.00 target price on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kimbell Royalty Partners Stock Down 2.4 %

Shares of NYSE KRP opened at $15.58 on Friday. Kimbell Royalty Partners, LP has a 52-week low of $14.26 and a 52-week high of $17.11. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.63 and a beta of 1.13. The stock has a 50 day moving average price of $15.91 and a 200 day moving average price of $16.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $81.19 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. Sell-side analysts expect that Kimbell Royalty Partners, LP will post 0.83 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.78%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 280.00%.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares in the company, valued at approximately $788,076.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

About Kimbell Royalty Partners