Algert Global LLC Trims Stake in Kimbell Royalty Partners, LP (NYSE:KRP)

Algert Global LLC cut its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,084 shares of the energy company’s stock after selling 2,570 shares during the period. Algert Global LLC’s holdings in Kimbell Royalty Partners were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust bought a new position in Kimbell Royalty Partners in the fourth quarter worth approximately $32,000. PNC Financial Services Group Inc. purchased a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at $32,000. Jones Financial Companies Lllp increased its holdings 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 acquiring an additional 2,028 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Kimbell Royalty Partners in the 4th quarter worth $55,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Kimbell Royalty Partners by 166.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,000 shares of the energy company’s stock worth $65,000 after purchasing an additional 2,500 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. KeyCorp lowered their price target on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Bank of America decreased their price objective on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. Finally, Mizuho started coverage on Kimbell Royalty Partners in a research report on Monday, March 31st. They set a “neutral” rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.40.

Kimbell Royalty Partners Trading Up 3.0%

NYSE:KRP opened at $13.95 on Wednesday. The company has a market capitalization of $1.49 billion, a P/E ratio of 27.35, a PEG ratio of 4.25 and a beta of 0.44. 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, LP has a 12 month low of $10.98 and a 12 month high of $17.07. The firm has a fifty day simple moving average of $13.00 and a 200-day simple moving average of $14.81.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $84.21 million during the quarter, compared to analyst estimates of $84.05 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. On average, equities research analysts anticipate that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 13.48%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, May 20th. Kimbell Royalty Partners’s payout ratio is presently 3,760.00%.

Insider Activity

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were 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 in the company, valued at $682,785.18. The trade was a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Company Profile