Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Down 6.5% in February

Kimbell Royalty Partners, LP (NYSE:KRPGet Free Report) was the target of a significant drop in short interest during the month of February. As of February 29th, there was short interest totalling 1,570,000 shares, a drop of 6.5% from the February 14th total of 1,680,000 shares. Based on an average daily trading volume, of 390,800 shares, the short-interest ratio is currently 4.0 days.

Kimbell Royalty Partners Stock Performance

NYSE:KRP opened at $15.45 on Tuesday. Kimbell Royalty Partners has a 1 year low of $13.93 and a 1 year high of $17.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95. The business has a fifty day simple moving average of $15.15 and a two-hundred day simple moving average of $15.43. The company has a market capitalization of $1.46 billion, a P/E ratio of 16.79 and a beta of 1.08.

Kimbell Royalty Partners (NYSE:KRPGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.13). The business had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $83.89 million. Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. Kimbell Royalty Partners’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, analysts expect that Kimbell Royalty Partners will post 1.12 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, March 12th. This represents a $1.72 dividend on an annualized basis and a yield of 11.13%. Kimbell Royalty Partners’s payout ratio is 186.96%.

Analysts Set New Price Targets

KRP has been the subject of several recent research reports. Truist Financial started coverage on Kimbell Royalty Partners in a report on Tuesday, January 30th. They set a “buy” rating and a $22.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, November 27th. KeyCorp decreased their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Raymond James dropped their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, TD Securities decreased their price objective on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kimbell Royalty Partners has a consensus rating of “Buy” and a consensus price target of $21.00.

Read Our Latest Analysis on Kimbell Royalty Partners

Insider Buying and Selling

In other news, Director T Scott Martin purchased 11,019 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were acquired at an average price of $15.27 per share, with a total value of $168,260.13. Following the completion of the transaction, the director now owns 59,731 shares of the company’s stock, valued at approximately $912,092.37. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Kimbell Royalty Partners news, Director T Scott Martin bought 11,019 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was acquired at an average price of $15.27 per share, with a total value of $168,260.13. Following the completion of the purchase, the director now directly owns 59,731 shares of the company’s stock, valued at approximately $912,092.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brett G. Taylor sold 22,326 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $15.59, for a total value of $348,062.34. Following the transaction, the director now owns 380,210 shares in the company, valued at $5,927,473.90. The disclosure for this sale can be found here. Insiders sold 67,022 shares of company stock valued at $1,048,690 over the last quarter. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in Kimbell Royalty Partners by 4.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,303 shares of the energy company’s stock worth $261,000 after purchasing an additional 628 shares during the period. HighTower Advisors LLC increased its holdings in Kimbell Royalty Partners by 2.2% during the 1st quarter. HighTower Advisors LLC now owns 32,090 shares of the energy company’s stock worth $489,000 after acquiring an additional 700 shares during the period. Annandale Capital LLC lifted its stake in Kimbell Royalty Partners by 8.1% in the 3rd quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock worth $181,000 after purchasing an additional 850 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Kimbell Royalty Partners by 40.0% in the 2nd quarter. Captrust Financial Advisors now owns 3,500 shares of the energy company’s stock valued at $55,000 after purchasing an additional 1,000 shares during the period. Finally, UBS Group AG increased its holdings in shares of Kimbell Royalty Partners by 13.5% in the third quarter. UBS Group AG now owns 8,495 shares of the energy company’s stock worth $136,000 after purchasing an additional 1,012 shares during the period. 36.70% of the stock is owned by institutional investors.

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