EverSource Wealth Advisors LLC Raises Holdings in Kimbell Royalty Partners, LP (NYSE:KRP)

EverSource Wealth Advisors LLC raised its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 166.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,000 shares of the energy company’s stock after acquiring an additional 2,500 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Kimbell Royalty Partners were worth $65,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at $32,000. Parkside Financial Bank & Trust bought a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at $32,000. Jones Financial Companies Lllp lifted its holdings in shares of Kimbell Royalty Partners by 293.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after buying an additional 2,028 shares during the period. Hilltop National Bank bought a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at $49,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Kimbell Royalty Partners during the 3rd quarter valued at $79,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock opened at $14.11 on Thursday. Kimbell Royalty Partners, LP has a one year low of $13.24 and a one year high of $17.07. The stock’s fifty day moving average is $15.22 and its 200 day moving average is $15.70. The stock has a market cap of $1.51 billion, a P/E ratio of 27.66, a P/E/G ratio of 4.25 and a beta of 1.01. 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 will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.34%. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KRP. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Bank of America lowered their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, March 4th. Finally, Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th.

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.

Kimbell Royalty Partners Company Profile