Mirae Asset Global Investments Co. Ltd. Takes $14.72 Million Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kimbell Royalty Partners, LP (NYSE:KRPGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 905,152 shares of the energy company’s stock, valued at approximately $14,718,000.

Other hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors bought a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $41,000. National Bank of Canada FI bought a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $65,000. Quantbot Technologies LP bought a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $81,000. Accel Wealth Management grew its position in Kimbell Royalty Partners by 40.0% during the first quarter. Accel Wealth Management now owns 7,000 shares of the energy company’s stock valued at $114,000 after buying an additional 2,000 shares during the period. Finally, US Bancorp DE bought a new stake in Kimbell Royalty Partners during the first quarter valued at approximately $114,000. 49.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TheStreet upgraded shares of Kimbell Royalty Partners from a “c+” rating to a “b” rating in a research report on Thursday, August 4th. Citigroup started coverage on shares of Kimbell Royalty Partners in a research report on Wednesday, August 24th. They set a “buy” rating and a $24.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kimbell Royalty Partners has a consensus rating of “Buy” and an average target price of $21.40.

Kimbell Royalty Partners Price Performance

KRP stock opened at $17.63 on Monday. Kimbell Royalty Partners, LP has a one year low of $12.50 and a one year high of $20.08. The company’s fifty day moving average price is $17.24 and its 200-day moving average price is $17.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $1.14 billion, a PE ratio of 15.20 and a beta of 1.52.

Kimbell Royalty Partners (NYSE:KRPGet Rating) last released its quarterly earnings results on Thursday, August 4th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. Kimbell Royalty Partners had a net margin of 41.55% and a return on equity of 25.19%. The company had revenue of $72.71 million for the quarter, compared to the consensus estimate of $60.36 million. On average, equities analysts anticipate that Kimbell Royalty Partners, LP will post 1.2 EPS for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 12th. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.47. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.48%. Kimbell Royalty Partners’s dividend payout ratio is presently 189.66%.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 29,100 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $17.52, for a total transaction of $509,832.00. Following the transaction, the director now directly owns 612,593 shares in the company, valued at approximately $10,732,629.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is owned by company insiders.

Kimbell Royalty Partners Company Profile

(Get Rating)

Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2021, it owned mineral and royalty interests in approximately 11.4 million gross acres and overriding royalty interests in approximately 4.7 million gross acres.

Further Reading

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Institutional Ownership by Quarter for Kimbell Royalty Partners (NYSE:KRP)

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