AlphaCore Capital LLC Has $2.38 Million Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

AlphaCore Capital LLC lifted its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,789 shares of the energy company’s stock after acquiring an additional 675 shares during the period. AlphaCore Capital LLC owned approximately 0.15% of Kimbell Royalty Partners worth $2,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Kimbell Royalty Partners in the 2nd quarter valued at approximately $43,000. Northwestern Mutual Wealth Management Co. lifted its stake in Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after acquiring an additional 1,484 shares in the last quarter. Godsey & Gibb Inc. lifted its stake in Kimbell Royalty Partners by 62.9% in the 3rd quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock valued at $66,000 after acquiring an additional 1,580 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Kimbell Royalty Partners during the 2nd quarter worth approximately $99,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock opened at $16.02 on Friday. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a 50-day simple moving average of $16.10 and a two-hundred day simple moving average of $16.22.

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

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.24%. The ex-dividend date is Monday, November 18th. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. This represents a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KRP has been the topic of a number of recent research reports. Truist Financial lowered their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, September 30th. KeyCorp dropped their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.50.

About Kimbell Royalty Partners