Blayne Rhynsburger Sells 7,851 Shares of Kimbell Royalty Partners, LP (NYSE:KRP) Stock

Kimbell Royalty Partners, LP (NYSE:KRP) insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now directly owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kimbell Royalty Partners Trading Up 0.8 %

Shares of KRP stock opened at $14.22 on Friday. Kimbell Royalty Partners, LP has a 1-year low of $13.24 and a 1-year high of $17.07. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 4.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The stock has a 50 day simple moving average of $15.16 and a 200-day simple moving average of $15.68.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KRP shares. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Bank of America lowered their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, March 4th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors have recently bought and sold shares of the company. AlphaCore Capital LLC lifted its holdings in Kimbell Royalty Partners by 0.5% in the 3rd quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock valued at $2,378,000 after purchasing an additional 675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Kimbell Royalty Partners by 11.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after buying an additional 10,176 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Kimbell Royalty Partners by 19.5% in the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock worth $512,000 after buying an additional 5,190 shares in the last quarter. Verition Fund Management LLC boosted its position in Kimbell Royalty Partners by 34.7% during the third quarter. Verition Fund Management LLC now owns 20,200 shares of the energy company’s stock worth $325,000 after acquiring an additional 5,200 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Kimbell Royalty Partners by 42.6% during the 3rd quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company’s stock valued at $345,000 after acquiring an additional 6,401 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners