Vanguard Group Inc. Lowers Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Vanguard Group Inc. lowered its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 384,160 shares of the energy company’s stock after selling 4,820 shares during the quarter. Vanguard Group Inc. owned approximately 0.41% of Kimbell Royalty Partners worth $5,962,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Kimbell Royalty Partners by 189.5% during 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 period. First Financial Bankshares Inc purchased a new position in shares of Kimbell Royalty Partners during the fourth quarter worth approximately $4,200,000. Mill Road Capital Management LLC raised its stake 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 worth $28,381,000 after acquiring an additional 243,761 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Kimbell Royalty Partners during the first quarter worth approximately $2,733,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Kimbell Royalty Partners during the fourth quarter worth approximately $2,230,000. 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 dated 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 owns 50,164 shares in the company, valued at approximately $788,076.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Stock Up 0.4 %

NYSE:KRP opened at $15.97 on Friday. The company has a market capitalization of $1.53 billion, a PE ratio of 26.62, a P/E/G ratio of 1.41 and a beta of 1.13. The firm’s 50-day moving average price is $16.41 and its 200-day moving average price is $16.04. Kimbell Royalty Partners, LP has a 1-year low of $14.26 and a 1-year high of $17.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.48 and a quick ratio of 8.48.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 4.91% and a net margin of 10.74%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, equities analysts predict that Kimbell Royalty Partners, LP will post 1 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.52%. The ex-dividend date of this dividend is Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio is currently 280.00%.

Analyst Ratings Changes

KRP has been the subject of a number of recent analyst reports. Bank of America reiterated an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a report on Friday, June 14th. Truist Financial boosted their price objective on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, KeyCorp boosted their price objective on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

About Kimbell Royalty Partners