Kimbell Royalty Partners, LP (NYSE:KRP) Sees Significant Increase in Short Interest

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,340,000 shares, a growth of 36.5% from the February 28th total of 982,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 972,100 shares, the days-to-cover ratio is currently 1.4 days.

Kimbell Royalty Partners Trading Up 1.3 %

KRP stock traded up $0.19 during midday trading on Tuesday, reaching $14.19. The company’s stock had a trading volume of 323,952 shares, compared to its average volume of 551,554. Kimbell Royalty Partners has a 1 year low of $13.24 and a 1 year high of $17.07. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.25 and a beta of 1.01. The stock has a fifty day simple moving average of $14.92 and a two-hundred day simple moving average of $15.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.28%. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now directly owns 49,263 shares of the company’s stock, valued at $682,785.18. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in Kimbell Royalty Partners by 13.7% in the fourth quarter. California State Teachers Retirement System now owns 59,276 shares of the energy company’s stock worth $962,000 after purchasing an additional 7,144 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in shares of Kimbell Royalty Partners by 0.9% in the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company’s stock worth $2,421,000 after buying an additional 1,350 shares during the period. Sunbelt Securities Inc. grew its position in shares of Kimbell Royalty Partners by 760.0% during the 4th quarter. Sunbelt Securities Inc. now owns 6,450 shares of the energy company’s stock worth $104,000 after buying an additional 5,700 shares in the last quarter. Vident Advisory LLC grew its position in shares of Kimbell Royalty Partners by 6.0% during the 4th quarter. Vident Advisory LLC now owns 30,815 shares of the energy company’s stock worth $500,000 after buying an additional 1,747 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Kimbell Royalty Partners by 14.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock valued at $10,511,000 after buying an additional 82,499 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KRP shares. Mizuho initiated coverage on Kimbell Royalty Partners in a research note on Monday. They set a “neutral” rating and a $16.00 target price on the stock. Bank of America reduced their price objective on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 4th. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.80.

Kimbell Royalty Partners Company Profile