Zurcher Kantonalbank Zurich Cantonalbank Has $197,000 Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,115 shares of the energy company’s stock after purchasing an additional 1,379 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kimbell Royalty Partners were worth $197,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in shares of Kimbell Royalty Partners by 1,540.0% during the fourth quarter. International Assets Investment Management LLC now owns 91,429 shares of the energy company’s stock worth $1,376,000 after purchasing an additional 85,854 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kimbell Royalty Partners by 6.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 474,669 shares of the energy company’s stock valued at $7,144,000 after acquiring an additional 30,630 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Kimbell Royalty Partners by 6.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 521,720 shares of the energy company’s stock valued at $7,852,000 after acquiring an additional 31,106 shares during the last quarter. HB Wealth Management LLC lifted its stake in Kimbell Royalty Partners by 17.6% in the fourth quarter. HB Wealth Management LLC now owns 20,000 shares of the energy company’s stock valued at $301,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $376,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Blayne Rhynsburger sold 6,487 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now directly owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Blayne Rhynsburger sold 6,487 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now directly owns 55,164 shares of the company’s stock, valued at approximately $860,558.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brett G. Taylor sold 27,163 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total value of $421,298.13. Following the completion of the sale, the director now directly owns 299,030 shares of the company’s stock, valued at $4,637,955.30. The disclosure for this sale can be found here. Insiders sold a total of 100,672 shares of company stock valued at $1,571,185 in the last ninety days. 5.60% of the stock is owned by insiders.

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock opened at $16.54 on Wednesday. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners, LP has a 1 year low of $14.02 and a 1 year high of $17.11. The company has a market cap of $1.57 billion, a PE ratio of 27.57 and a beta of 1.07. The company’s 50-day moving average is $15.80 and its two-hundred day moving average is $15.48.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.68%. The business had revenue of $87.50 million for the quarter, compared to analyst estimates of $79.42 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. Equities analysts anticipate that Kimbell Royalty Partners, LP will post 0.91 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.85%. Kimbell Royalty Partners’s dividend payout ratio is 286.67%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRP. TD Securities reduced their target price on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Raymond James lowered 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 report on Wednesday, January 24th. KeyCorp boosted their target price on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Truist Financial reduced their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $21.00.

Kimbell Royalty Partners Profile