Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Down 13.7% in November

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,770,000 shares, a decline of 13.7% from the October 31st total of 2,050,000 shares. Based on an average daily volume of 414,800 shares, the short-interest ratio is presently 4.3 days.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the firm’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 transaction of $82,050.00. Following the completion of the sale, the insider now owns 45,164 shares in the company, valued at $741,141.24. This trade represents a 9.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRP. International Assets Investment Management LLC lifted its position in shares of Kimbell Royalty Partners by 1,509.0% during the 3rd quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock valued at $1,573,000 after acquiring an additional 91,672 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Kimbell Royalty Partners during the 2nd quarter valued at $1,227,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Kimbell Royalty Partners during the 2nd quarter worth about $1,032,000. Oppenheimer & Co. Inc. increased its stake in Kimbell Royalty Partners by 102.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock valued at $1,429,000 after buying an additional 44,320 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Kimbell Royalty Partners by 6.1% during the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after acquiring an additional 64,678 shares in the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on KRP. Truist Financial decreased their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. KeyCorp dropped their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Kimbell Royalty Partners currently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Kimbell Royalty Partners Stock Up 1.1 %

KRP opened at $16.18 on Friday. The stock’s 50 day moving average price is $16.13 and its 200 day moving average price is $16.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The stock has a market cap of $1.55 billion, a P/E ratio of 31.73, a P/E/G ratio of 1.99 and a beta of 1.13. Kimbell Royalty Partners has a 12 month low of $14.26 and a 12 month high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. During the same quarter last year, the company earned $0.19 EPS. Kimbell Royalty Partners’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, research analysts predict that Kimbell Royalty Partners will post 0.69 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 annualized dividend and a dividend yield of 10.14%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 321.57%.

Kimbell Royalty Partners Company Profile