HighTower Advisors LLC Grows Position in Kimbell Royalty Partners, LP (NYSE:KRP)

HighTower Advisors LLC increased its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 12.8% in the fourth quarter, HoldingsChannel reports. The fund owned 24,173 shares of the energy company’s stock after purchasing an additional 2,750 shares during the period. HighTower Advisors LLC’s holdings in Kimbell Royalty Partners were worth $392,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in Kimbell Royalty Partners during the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Kimbell Royalty Partners in the fourth quarter worth about $32,000. Jones Financial Companies Lllp lifted its stake in shares of Kimbell Royalty Partners by 293.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after purchasing an additional 2,028 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Kimbell Royalty Partners by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock valued at $1,801,000 after buying an additional 2,066 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Kimbell Royalty Partners by 7.1% in the 4th quarter. Venturi Wealth Management LLC now owns 31,600 shares of the energy company’s stock worth $513,000 after acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 7,851 shares of the company’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 completion of the transaction, the insider now directly owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Stock Down 0.7 %

KRP stock opened at $13.98 on Tuesday. Kimbell Royalty Partners, LP has a 12 month low of $13.24 and a 12 month high of $17.07. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 4.25 and a beta of 1.01. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $14.92 and a two-hundred day moving average of $15.62.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.45%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is presently -1,454.55%.

Analyst Upgrades and Downgrades

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

Kimbell Royalty Partners Profile