Oppenheimer & Co. Inc. Raises Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Oppenheimer & Co. Inc. grew its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 10.3% in the 3rd quarter, Holdings Channel reports. The firm owned 96,377 shares of the energy company’s stock after purchasing an additional 9,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kimbell Royalty Partners were worth $1,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its stake in Kimbell Royalty Partners by 5.5% in the second quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock worth $217,000 after buying an additional 685 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Kimbell Royalty Partners by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock worth $927,000 after acquiring an additional 700 shares during the period. Centaurus Financial Inc. raised its position in shares of Kimbell Royalty Partners by 4.7% in the 2nd quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock worth $300,000 after acquiring an additional 823 shares in the last quarter. Carson Advisory Inc. lifted its stake in shares of Kimbell Royalty Partners by 1.8% in the 3rd quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company’s stock valued at $791,000 after purchasing an additional 883 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of Kimbell Royalty Partners by 6.6% during the second quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock valued at $257,000 after purchasing an additional 974 shares in the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Trading Down 2.3 %

Shares of KRP stock opened at $15.96 on Monday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 31.29, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a current ratio of 5.20, a quick ratio of 5.68 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $16.05 and its 200 day moving average is $16.22. Kimbell Royalty Partners, LP has a 12-month low of $14.26 and a 12-month high of $17.07.

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

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 10.28%. The ex-dividend date of this dividend is Monday, November 18th. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total value of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KRP shares. Truist Financial decreased their price objective on 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 lowered their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

About Kimbell Royalty Partners