Arizona State Retirement System Lowers Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Arizona State Retirement System cut its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,574 shares of the energy company’s stock after selling 692 shares during the period. Arizona State Retirement System’s holdings in Kimbell Royalty Partners were worth $288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgemont Partners Management LLC purchased a new position in shares of Kimbell Royalty Partners during the second quarter valued at approximately $96,372,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 valued at $19,882,000 after purchasing an additional 899,322 shares during the last quarter. First Financial Bankshares Inc purchased a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $4,200,000. Mill Road Capital Management LLC lifted its holdings 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 purchasing an additional 243,761 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased 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 currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s 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 completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Partners Trading Up 0.8 %

NYSE:KRP opened at $15.84 on Wednesday. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners, LP has a 12 month low of $14.26 and a 12 month high of $17.11. The company has a market cap of $1.51 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13. The company has a 50 day simple moving average of $16.04 and a two-hundred day simple moving average of $16.11.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The company had revenue of $76.60 million during the quarter, compared to the consensus estimate of $81.19 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. Research analysts forecast that Kimbell Royalty Partners, LP will post 0.99 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 280.00%.

Analysts Set New Price Targets

KRP has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America restated an “underperform” rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

About Kimbell Royalty Partners