Short Interest in Kimbell Royalty Partners, LP (NYSE:KRP) Grows By 39.3%

Kimbell Royalty Partners, LP (NYSE:KRP) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 982,000 shares, a growth of 39.3% from the February 13th total of 705,100 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 942,300 shares, the short-interest ratio is currently 1.0 days.

Kimbell Royalty Partners Stock Performance

Shares of KRP opened at $14.30 on Tuesday. The company has a 50-day simple moving average of $15.30 and a 200-day simple moving average of $15.73. Kimbell Royalty Partners has a 52-week low of $13.24 and a 52-week high of $17.07. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.53 billion, a PE ratio of 28.04, a P/E/G ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.19%. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $32,000. PNC Financial Services Group Inc. acquired a new stake in Kimbell Royalty Partners during the 4th quarter valued at $32,000. Jones Financial Companies Lllp increased its position in Kimbell Royalty Partners by 293.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after buying an additional 2,028 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter worth $49,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

KRP has been the subject of a number of research reports. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Bank of America decreased their price objective on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Finally, Truist Financial lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $16.00 in a report on Tuesday, March 4th.

Kimbell Royalty Partners Company Profile