Kimbell Royalty Partners, LP (NYSE:KRP – Get Rating) saw unusually-high trading volume on Friday . Approximately 18,145 shares traded hands during trading, a decline of 93% from the previous session’s volume of 258,999 shares.The stock last traded at $16.41 and had previously closed at $17.59.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on KRP. Citigroup began coverage on shares of Kimbell Royalty Partners in a research note on Wednesday, August 24th. They set a “buy” rating and a $24.00 target price for the company. TheStreet upgraded Kimbell Royalty Partners from a “c+” rating to a “b” rating in a research note on Thursday, August 4th. Finally, KeyCorp began coverage on Kimbell Royalty Partners in a research note on Monday. They set a “sector weight” rating for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.40.
Kimbell Royalty Partners Trading Down 7.0 %
The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $17.43 and a two-hundred day moving average of $17.15. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.16 and a beta of 1.52.
Kimbell Royalty Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 15th were given a $0.55 dividend. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.47. This represents a $2.20 annualized dividend and a yield of 13.45%. The ex-dividend date of this dividend was Friday, August 12th. Kimbell Royalty Partners’s payout ratio is currently 189.66%.
Insider Transactions at Kimbell Royalty Partners
In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 29,100 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $17.52, for a total value of $509,832.00. Following the sale, the director now directly owns 612,593 shares in the company, valued at approximately $10,732,629.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 29,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $17.52, for a total value of $509,832.00. Following the completion of the transaction, the director now owns 612,593 shares of the company’s stock, valued at approximately $10,732,629.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Blayne Rhynsburger sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $17.73, for a total value of $44,325.00. Following the sale, the insider now owns 46,616 shares in the company, valued at $826,501.68. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG acquired a new position in shares of Kimbell Royalty Partners in the 2nd quarter worth approximately $32,000. Captrust Financial Advisors acquired a new stake in shares of Kimbell Royalty Partners during the 1st quarter worth about $41,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Kimbell Royalty Partners during the 2nd quarter valued at about $57,000. National Bank of Canada FI acquired a new position in Kimbell Royalty Partners in the first quarter valued at about $65,000. Finally, Quantbot Technologies LP bought a new stake in Kimbell Royalty Partners during the first quarter worth about $81,000. Institutional investors and hedge funds own 49.15% of the company’s stock.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2021, it owned mineral and royalty interests in approximately 11.4 million gross acres and overriding royalty interests in approximately 4.7 million gross acres.
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