Argent Trust Co Takes $176,000 Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Argent Trust Co acquired a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,750 shares of the energy company’s stock, valued at approximately $176,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ridgemont Partners Management LLC acquired a new stake in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $96,372,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kimbell Royalty Partners by 189.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after acquiring an additional 899,322 shares in the last quarter. First Financial Bankshares Inc acquired a new position in Kimbell Royalty Partners during the 4th quarter worth approximately $4,200,000. American Century Companies Inc. grew its stake in shares of Kimbell Royalty Partners by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after acquiring an additional 260,332 shares in the last quarter. Finally, Mill Road Capital Management LLC raised its holdings in shares of Kimbell Royalty Partners by 14.8% in the fourth quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock valued at $28,381,000 after purchasing an additional 243,761 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

Wall Street Analyst Weigh In

KRP has been the subject of several recent research reports. Truist Financial increased their target price on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America restated an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by insiders.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $16.00 on Friday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $15.98 and its two-hundred day moving average price is $16.11. Kimbell Royalty Partners, LP has a 1 year low of $14.26 and a 1 year high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last issued its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, research analysts anticipate that Kimbell Royalty Partners, LP will post 0.99 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.50%. Kimbell Royalty Partners’s dividend payout ratio is currently 280.00%.

Kimbell Royalty Partners Profile