Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 5.5% in March

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,340,000 shares, an increase of 5.5% from the March 15th total of 1,270,000 shares. Based on an average daily trading volume, of 358,100 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KRP shares. KeyCorp decreased their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. 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. Truist Financial decreased their price objective on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Raymond James decreased their price objective on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.86.

Insider Transactions at Kimbell Royalty Partners

In related news, Director Brett G. Taylor sold 22,326 shares of the company’s 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 completion of the transaction, the director now directly owns 380,210 shares of the company’s stock, valued at $5,927,473.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Brett G. Taylor sold 22,326 shares of the company’s 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 completion of the transaction, the director now directly owns 380,210 shares of the company’s stock, valued at $5,927,473.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Blayne Rhynsburger sold 6,487 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the transaction, the insider now directly owns 55,164 shares of the company’s stock, valued at $860,558.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,672 shares of company stock valued at $1,571,185. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its position in Kimbell Royalty Partners by 4.0% in the third quarter. Teacher Retirement System of Texas now owns 16,303 shares of the energy company’s stock worth $261,000 after acquiring an additional 628 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Kimbell Royalty Partners by 2.2% in the first quarter. HighTower Advisors LLC now owns 32,090 shares of the energy company’s stock valued at $489,000 after buying an additional 700 shares in the last quarter. Annandale Capital LLC increased its position in shares of Kimbell Royalty Partners by 8.1% in the third quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock valued at $181,000 after buying an additional 850 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Kimbell Royalty Partners by 40.0% in the second quarter. Captrust Financial Advisors now owns 3,500 shares of the energy company’s stock valued at $55,000 after buying an additional 1,000 shares in the last quarter. Finally, UBS Group AG increased its position 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 valued at $136,000 after buying an additional 1,012 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Performance

Shares of Kimbell Royalty Partners stock traded down $0.03 during trading hours on Wednesday, hitting $15.86. 213,059 shares of the company were exchanged, compared to its average volume of 260,696. Kimbell Royalty Partners has a 1 year low of $14.02 and a 1 year high of $17.11. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average of $15.60 and a 200-day moving average of $15.48. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 17.24 and a beta of 1.08.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings results 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 company had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $83.89 million. Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. Kimbell Royalty Partners’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. As a group, analysts expect that Kimbell Royalty Partners will post 0.79 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 10.84%. The ex-dividend date was Tuesday, March 12th. Kimbell Royalty Partners’s payout ratio is 186.96%.

Kimbell Royalty Partners Company Profile