Kimbell Royalty Partners, LP (NYSE:KRP) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in Kimbell Royalty Partners, LP (NYSE:KRP) by 6.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,118,570 shares of the energy company’s stock after purchasing an additional 64,678 shares during the period. Raymond James & Associates’ holdings in Kimbell Royalty Partners were worth $17,998,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KRP. EverSource Wealth Advisors LLC acquired a new position in Kimbell Royalty Partners during the second quarter valued at $25,000. Summit Securities Group LLC acquired a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $43,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after buying an additional 1,484 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Kimbell Royalty Partners during the second quarter worth about $99,000. Finally, Bridgewealth Advisory Group LLC purchased a new position in Kimbell Royalty Partners during the second quarter valued at approximately $165,000. 25.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction 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 sale, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial dropped their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. KeyCorp dropped their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Kimbell Royalty Partners Price Performance

Kimbell Royalty Partners stock opened at $16.04 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.86 and a beta of 1.13. The company’s fifty day moving average price is $15.90 and its 200 day moving average price is $16.20. 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, LP has a 1 year low of $14.26 and a 1 year high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results 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). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. During the same quarter last year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Kimbell Royalty Partners, LP will post 0.74 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.42 per share. The ex-dividend date was Monday, August 12th. This represents a $1.68 annualized dividend and a yield of 10.47%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 350.00%.

About Kimbell Royalty Partners