Rockefeller Capital Management L.P. Boosts Holdings in Kimbell Royalty Partners, LP (NYSE:KRP)

Rockefeller Capital Management L.P. increased its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 19.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,841 shares of the energy company’s stock after purchasing an additional 5,190 shares during the period. Rockefeller Capital Management L.P.’s holdings in Kimbell Royalty Partners were worth $512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Kimbell Royalty Partners by 20.9% in 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 last quarter. Raymond James & Associates grew its holdings in shares of Kimbell Royalty Partners by 6.1% in the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after purchasing an additional 64,678 shares during the last quarter. King Luther Capital Management Corp raised its holdings in Kimbell Royalty Partners by 7.3% during 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 last quarter. Aptus Capital Advisors LLC grew its holdings in Kimbell Royalty Partners by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 227,582 shares of the energy company’s stock worth $3,662,000 after acquiring an additional 30,788 shares during the last quarter. Finally, Accordant Advisory Group Inc increased its position in shares of Kimbell Royalty Partners by 6.8% in the third quarter. Accordant Advisory Group Inc now owns 191,706 shares of the energy company’s stock valued at $3,085,000 after acquiring an additional 12,199 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Performance

Shares of KRP opened at $15.67 on Wednesday. The business has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $16.18. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a 52 week low of $14.26 and a 52 week high of $17.07. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.93 and a beta of 1.12.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 EPS 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 business had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, analysts expect that Kimbell Royalty Partners, LP will post 0.69 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.47%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total value of $82,050.00. Following the transaction, the insider now owns 45,164 shares of the company’s stock, valued at $741,141.24. This represents a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

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

About Kimbell Royalty Partners