Kimbell Royalty Partners, LP (NYSE:KRP) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 42.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 21,423 shares of the energy company’s stock after acquiring an additional 6,401 shares during the quarter. HighTower Advisors LLC’s holdings in Kimbell Royalty Partners were worth $345,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC lifted its holdings in shares of Kimbell Royalty Partners by 0.5% during the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock worth $2,378,000 after purchasing an additional 675 shares during the period. National Bank of Canada FI raised its position in Kimbell Royalty Partners by 5.5% during the 2nd quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock worth $217,000 after buying an additional 685 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Kimbell Royalty Partners by 4.7% during the 2nd quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after acquiring an additional 823 shares during the period. Carson Advisory Inc. boosted its holdings in shares of Kimbell Royalty Partners by 1.8% in the 3rd quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company’s stock valued at $791,000 after acquiring an additional 883 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Kimbell Royalty Partners by 6.6% in the second quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock worth $257,000 after acquiring an additional 974 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, September 30th. KeyCorp decreased their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Insider Transactions at Kimbell Royalty Partners

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

Kimbell Royalty Partners Stock Up 0.2 %

KRP stock opened at $15.41 on Monday. 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 quick ratio of 5.20 and a current ratio of 5.20. The firm’s fifty day moving average is $16.02 and its 200 day moving average is $16.12. The firm has a market cap of $1.47 billion, a PE ratio of 30.22, a P/E/G ratio of 1.93 and a beta of 1.12.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $83.79 million for 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%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. On average, research analysts forecast that Kimbell Royalty Partners, LP will post 0.69 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 10.64%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

About Kimbell Royalty Partners