AlphaCore Capital LLC Has $2.38 Million Position in Kimbell Royalty Partners, LP (NYSE:KRP)

AlphaCore Capital LLC lifted its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,789 shares of the energy company’s stock after purchasing an additional 675 shares during the quarter. AlphaCore Capital LLC’s holdings in Kimbell Royalty Partners were worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KRP. International Assets Investment Management LLC grew its stake in shares of Kimbell Royalty Partners by 1,509.0% during the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after buying an additional 91,672 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Kimbell Royalty Partners during the second quarter valued at about $1,227,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Kimbell Royalty Partners during the second quarter worth about $1,032,000. Oppenheimer & Co. Inc. grew its holdings in shares of Kimbell Royalty Partners by 102.9% during the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock worth $1,429,000 after purchasing an additional 44,320 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Kimbell Royalty Partners by 6.1% in the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock valued at $17,998,000 after buying an additional 64,678 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s 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 transaction, the insider now owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. This trade represents a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Stock Performance

NYSE:KRP opened at $16.02 on Friday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.95 and a beta of 1.13. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a fifty day moving average of $16.10 and a 200-day moving average of $16.22. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, sell-side analysts anticipate that Kimbell Royalty Partners, LP will post 0.69 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a $0.41 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.64 dividend on an annualized basis and a yield of 10.24%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 321.57%.

Analysts Set New Price Targets

A number of research firms have weighed in on KRP. Truist Financial reduced their target price on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, September 30th. KeyCorp decreased their price target 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 equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

About Kimbell Royalty Partners