Kimbell Royalty Partners (NYSE:KRP) Shares Gap Up – Here’s Why

Kimbell Royalty Partners, LP (NYSE:KRP) gapped up prior to trading on Thursday . The stock had previously closed at $15.86, but opened at $16.21. Kimbell Royalty Partners shares last traded at $15.94, with a volume of 1,613,045 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KRP shares. Truist Financial increased their target price on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. KeyCorp reduced their price target on 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 analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

Kimbell Royalty Partners Price Performance

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 8.37 and a beta of 1.10. The business’s 50 day simple moving average is $15.90 and its 200-day simple moving average is $16.03. 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 (NYSE:KRP) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 EPS 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 return on equity of 5.82% and a net margin of 11.33%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. Research analysts anticipate that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced 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 yield of 10.26%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total value of $82,050.00. Following the sale, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Kimbell Royalty Partners by 1,509.0% during the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after buying an additional 91,672 shares in the last quarter. Raymond James & Associates raised its stake in shares of Kimbell Royalty Partners by 6.1% in the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after purchasing an additional 64,678 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Kimbell Royalty Partners by 80.8% in the third quarter. GSA Capital Partners LLP now owns 94,613 shares of the energy company’s stock worth $1,522,000 after purchasing an additional 42,275 shares during the last quarter. Aptus Capital Advisors LLC increased its position in shares of Kimbell Royalty Partners by 15.6% during the third quarter. Aptus Capital Advisors LLC now owns 227,582 shares of the energy company’s stock valued at $3,662,000 after acquiring an additional 30,788 shares during the last quarter. Finally, Accordant Advisory Group Inc lifted its position in shares of Kimbell Royalty Partners by 10.3% during the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after buying an additional 19,716 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

About Kimbell Royalty Partners