Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Update

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,770,000 shares, a decline of 13.7% from the October 31st total of 2,050,000 shares. Based on an average trading volume of 414,800 shares, the days-to-cover ratio is presently 4.3 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on KRP. Truist Financial cut their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, September 30th. KeyCorp dropped their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Kimbell Royalty Partners Stock Performance

NYSE:KRP opened at $16.18 on Friday. The firm has a 50-day moving average price of $16.13 and a two-hundred day moving average price of $16.21. The company has a market capitalization of $1.55 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13. Kimbell Royalty Partners has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

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, topping the consensus estimate 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 return on equity of 5.82% and a net margin of 11.33%. Kimbell Royalty Partners’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. As a group, research analysts expect that Kimbell Royalty Partners will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 10.14%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred 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 sale, the insider now owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. The trade was 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 the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently bought and sold shares of KRP. Ridgemont Partners Management LLC acquired a new stake in Kimbell Royalty Partners in the 2nd quarter worth about $96,372,000. American Century Companies Inc. raised its holdings in shares of Kimbell Royalty Partners by 20.9% in the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after purchasing an additional 260,332 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Kimbell Royalty Partners by 1,509.0% during the 3rd quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after purchasing an additional 91,672 shares during the period. SG Americas Securities LLC purchased a new position in Kimbell Royalty Partners in the second quarter valued at approximately $1,227,000. Finally, Raymond James & Associates grew its stake in Kimbell Royalty Partners by 6.1% during the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after buying an additional 64,678 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Company Profile