Short Interest in Kimbell Royalty Partners, LP (NYSE:KRP) Declines By 13.7%

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,770,000 shares, a decline of 13.7% from the October 31st total of 2,050,000 shares. Based on an average trading volume of 414,800 shares, the days-to-cover ratio is currently 4.3 days.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ridgemont Partners Management LLC acquired a new position in Kimbell Royalty Partners in the second quarter worth $96,372,000. American Century Companies Inc. raised its holdings in shares of Kimbell Royalty Partners by 20.9% during the second quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after purchasing an additional 260,332 shares during the period. Raymond James & Associates lifted its position in shares of Kimbell Royalty Partners by 6.1% in the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after buying an additional 64,678 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Kimbell Royalty Partners by 7.3% in the 2nd quarter. King Luther Capital Management Corp now owns 440,919 shares of the energy company’s stock valued at $7,213,000 after buying an additional 29,998 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Kimbell Royalty Partners by 3.3% during the 3rd quarter. Stifel Financial Corp now owns 235,945 shares of the energy company’s stock valued at $3,796,000 after buying an additional 7,626 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KRP has been the topic of a number of recent research reports. KeyCorp reduced their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Truist Financial lowered their target price on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kimbell Royalty Partners presently has an average rating of “Moderate Buy” and an average price target of $20.40.

Kimbell Royalty Partners Stock Up 0.1 %

Shares of NYSE:KRP opened at $16.19 on Tuesday. The firm has a market cap of $1.55 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.99 and a beta of 1.13. The company has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $16.21. 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 has a 12-month low of $14.26 and a 12-month high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The company had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The company’s revenue was up 24.7% on a year-over-year basis. On average, equities research analysts anticipate that Kimbell Royalty Partners will post 0.69 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 10.13%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio is presently 321.57%.

About Kimbell Royalty Partners