Raymond James Trust N.A. Sells 1,895 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

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

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in Kimbell Royalty Partners during the 2nd quarter worth $25,000. Summit Securities Group LLC bought a new position in shares of Kimbell Royalty Partners in the second quarter worth $43,000. Northwestern Mutual Wealth Management Co. raised its stake in 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 in the last quarter. Godsey & Gibb Inc. lifted its position in Kimbell Royalty Partners by 62.9% during 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 during the period. Finally, International Assets Investment Management LLC acquired a new stake in Kimbell Royalty Partners during the second quarter worth about $99,000. 25.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total value of $82,050.00. Following the completion of the transaction, the insider now owns 45,164 shares of the company’s stock, valued at $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Trading Up 0.6 %

KRP opened at $16.00 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 31.37, a PEG ratio of 1.95 and a beta of 1.13. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $16.13 and its 200-day moving average is $16.21. Kimbell Royalty Partners, LP has a 1-year low of $14.26 and a 1-year high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share 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 analyst estimates of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. Equities research analysts predict that Kimbell Royalty Partners, LP will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.41 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.25%. Kimbell Royalty Partners’s dividend payout ratio is presently 321.57%.

Wall Street Analysts Forecast Growth

KRP has been the subject of several analyst reports. Truist Financial dropped 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 cut their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.40.

Kimbell Royalty Partners Company Profile