King Luther Capital Management Corp Has $7.21 Million Holdings in Kimbell Royalty Partners, LP (NYSE:KRP)

King Luther Capital Management Corp grew its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,919 shares of the energy company’s stock after acquiring an additional 29,998 shares during the period. King Luther Capital Management Corp owned 0.46% of Kimbell Royalty Partners worth $7,213,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. National Bank of Canada FI grew its position in shares of Kimbell Royalty Partners by 5.5% during the 2nd quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock worth $217,000 after purchasing an additional 685 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Kimbell Royalty Partners by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock valued at $927,000 after buying an additional 700 shares during the period. Raymond James Trust N.A. increased its holdings in shares of Kimbell Royalty Partners by 6.6% during the second quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock valued at $257,000 after acquiring an additional 974 shares in the last quarter. TD Asset Management Inc raised its holdings in Kimbell Royalty Partners by 2.0% during the fourth quarter. TD Asset Management Inc now owns 65,586 shares of the energy company’s stock worth $987,000 after buying an additional 1,268 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Kimbell Royalty Partners in the 2nd quarter valued at about $43,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Partners Trading Up 0.4 %

Shares of KRP stock opened at $16.00 on Friday. Kimbell Royalty Partners, LP has a 12-month low of $14.26 and a 12-month high of $17.11. The firm has a market cap 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 business has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $16.11. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The firm had revenue of $76.60 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. Equities analysts anticipate that Kimbell Royalty Partners, LP will post 0.99 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 10.50%. The ex-dividend date was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 280.00%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total value of $78,550.00. Following the transaction, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRP. Truist Financial lifted their price objective 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 reissued an “underperform” rating and issued a $16.00 price target on shares of Kimbell Royalty Partners in a research report 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’s stock. According to data from MarketBeat.com, Kimbell Royalty Partners has an average rating of “Moderate Buy” and an average target price of $21.00.

About Kimbell Royalty Partners