Belpointe Asset Management LLC Purchases Shares of 2,521 Kimbell Royalty Partners, LP (NYSE:KRP)

Belpointe Asset Management LLC purchased a new stake in Kimbell Royalty Partners, LP (NYSE:KRP – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,521 shares of the energy company’s stock, valued at approximately $42,000.

A number of other hedge funds have also recently bought and sold shares of KRP. Tower Research Capital LLC TRC bought a new position in shares of Kimbell Royalty Partners during the 3rd quarter worth approximately $34,000. UBS Group AG bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $32,000. Captrust Financial Advisors bought a new position in shares of Kimbell Royalty Partners during the 1st quarter worth approximately $41,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $57,000. Finally, Quantbot Technologies LP bought a new position in shares of Kimbell Royalty Partners during the 1st quarter worth approximately $81,000. 47.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KRP shares. Raymond James lifted their target price on Kimbell Royalty Partners from $19.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 14th. Stifel Nicolaus reduced their target price on Kimbell Royalty Partners from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 12th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kimbell Royalty Partners presently has an average rating of “Buy” and a consensus price target of $21.00.

Kimbell Royalty Partners Stock Performance

NYSE:KRP opened at $15.41 on Thursday. The stock has a market cap of $1.24 billion, a P/E ratio of 7.78 and a beta of 1.35. The stock has a 50 day simple moving average of $15.53 and a 200 day simple moving average of $16.08. The company has a current ratio of 7.13, a quick ratio of 7.13 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a 1-year low of $13.85 and a 1-year high of $20.08.

Kimbell Royalty Partners (NYSE:KRP – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.21. The business had revenue of $66.92 million during the quarter, compared to analysts’ expectations of $53.13 million. Kimbell Royalty Partners had a return on equity of 29.56% and a net margin of 47.42%. Research analysts anticipate that Kimbell Royalty Partners, LP will post 0.96 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 15th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, May 12th. This represents a $1.40 annualized dividend and a yield of 9.09%. Kimbell Royalty Partners’s payout ratio is currently 70.71%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 2,000 shares of Kimbell Royalty Partners stock in a transaction on Friday, March 10th. The stock was sold at an average price of $15.15, for a total value of $30,300.00. Following the completion of the transaction, the insider now directly owns 56,191 shares of the company’s stock, valued at approximately $851,293.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Company Profile

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Kimbell Royalty Partners LP engages in owning and acquiring mineral and royalty interests in oil and natural gas properties. The company was founded by Robert Ravnaas, R. Davis Ravnaas, Brett G. Taylor on October 30, 2015 and is headquartered in Fort Worth, TX.