Raymond James Trust N.A. Has $222,000 Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Raymond James Trust N.A. lessened its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 12.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,801 shares of the energy company’s stock after selling 1,895 shares during the quarter. Raymond James Trust N.A.’s holdings in Kimbell Royalty Partners were worth $222,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KRP. EverSource Wealth Advisors LLC acquired a new stake in Kimbell Royalty Partners in the 2nd quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $49,000 after purchasing an additional 1,484 shares during the last quarter. Godsey & Gibb Inc. lifted its position in shares of Kimbell Royalty Partners by 62.9% in the third quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock worth $66,000 after purchasing an additional 1,580 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Kimbell Royalty Partners during the second quarter worth $99,000. Institutional investors own 25.78% of the company’s stock.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total value of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KRP. KeyCorp lowered 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 note on Wednesday, October 16th. Truist Financial lowered their target price on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Kimbell Royalty Partners Stock Performance

Shares of KRP opened at $16.00 on Friday. The company has a market cap of $1.53 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. The firm has a 50-day moving average of $16.13 and a 200-day moving average of $16.21. Kimbell Royalty Partners, LP has a one year low of $14.26 and a one year high of $17.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $83.79 million during the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. Kimbell Royalty Partners’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. As a group, equities analysts forecast that Kimbell Royalty Partners, LP will post 0.69 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 10.25%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 321.57%.

About Kimbell Royalty Partners