Steward Partners Investment Advisory LLC Reduces Holdings in Kimbell Royalty Partners, LP (NYSE:KRP)

Steward Partners Investment Advisory LLC decreased its position in Kimbell Royalty Partners, LP (NYSE:KRP) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,105 shares of the energy company’s stock after selling 1,890 shares during the period. Steward Partners Investment Advisory LLC owned 0.06% of Kimbell Royalty Partners worth $959,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. AlphaCore Capital LLC boosted its position in shares of Kimbell Royalty Partners by 0.5% during the 3rd quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock worth $2,378,000 after purchasing an additional 675 shares during the period. Parkside Financial Bank & Trust purchased a new position in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $32,000. Jones Financial Companies Lllp boosted its position in shares of Kimbell Royalty Partners by 293.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after purchasing an additional 2,028 shares during the period. Nordea Investment Management AB boosted its position in shares of Kimbell Royalty Partners by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock worth $1,801,000 after purchasing an additional 2,066 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Kimbell Royalty Partners by 7.1% during the 4th quarter. Venturi Wealth Management LLC now owns 31,600 shares of the energy company’s stock worth $513,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRP. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Bank of America decreased their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Finally, Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $13.56 on Tuesday. 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 $13.24 and a 52 week high of $17.07. The stock has a market capitalization of $1.45 billion, a PE ratio of 26.58, a P/E/G ratio of 4.25 and a beta of 1.01. The firm has a 50 day moving average of $15.55 and a two-hundred day moving average of $15.80.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.80%. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Kimbell Royalty Partners Company Profile