Bridgewealth Advisory Group LLC Invests $165,000 in Kimbell Royalty Partners, LP (NYSE:KRP)

Bridgewealth Advisory Group LLC purchased a new stake in Kimbell Royalty Partners, LP (NYSE:KRP) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,086 shares of the energy company’s stock, valued at approximately $165,000.

Several other institutional investors also recently bought and sold shares of KRP. Board of Trustees of The Leland Stanford Junior University raised its holdings in shares of Kimbell Royalty Partners by 148.1% during the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company’s stock valued at $1,680,000 after acquiring an additional 66,638 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Kimbell Royalty Partners in the 4th quarter valued at $2,230,000. First Financial Bankshares Inc purchased a new position in Kimbell Royalty Partners in the 4th quarter valued at $4,200,000. SG Americas Securities LLC acquired a new stake in Kimbell Royalty Partners during the 2nd quarter worth $1,227,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Kimbell Royalty Partners by 189.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock worth $19,882,000 after buying an additional 899,322 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Price Performance

Kimbell Royalty Partners stock opened at $16.00 on Friday. 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 company has a 50-day moving average price of $15.98 and a 200 day moving average price of $16.11. Kimbell Royalty Partners, LP has a 12-month low of $14.26 and a 12-month high of $17.11. The stock has a market cap of $1.53 billion, a P/E ratio of 26.67, a PEG ratio of 1.29 and a beta of 1.13.

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

Kimbell Royalty Partners Cuts Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KRP. Truist Financial raised their price target on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Bank of America reissued an “underperform” rating and issued a $16.00 target price on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kimbell Royalty Partners Profile