Kimbell Royalty Partners, LP (NYSE:KRP) Stock Holdings Lifted by HighTower Advisors LLC

HighTower Advisors LLC raised its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 12.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,173 shares of the energy company’s stock after purchasing an additional 2,750 shares during the period. HighTower Advisors LLC’s holdings in Kimbell Royalty Partners were worth $392,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. PNC Financial Services Group Inc. bought a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at $32,000. Jones Financial Companies Lllp lifted its stake in shares of Kimbell Royalty Partners by 293.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after purchasing an additional 2,028 shares during the last quarter. Hilltop National Bank bought a new stake in Kimbell Royalty Partners in the fourth quarter worth $49,000. Finally, Legacy Investment Solutions LLC acquired a new position in Kimbell Royalty Partners during the third quarter worth $79,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KRP shares. Mizuho began coverage on Kimbell Royalty Partners in a report on Monday. They issued a “neutral” rating and a $16.00 target price for the company. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Bank of America lowered 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 report on Tuesday, March 4th. Finally, Truist Financial lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $16.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.80.

Kimbell Royalty Partners Stock Performance

KRP opened at $13.98 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 4.25 and a beta of 1.01. The business’s 50-day moving average price is $14.92 and its two-hundred day moving average price is $15.62. Kimbell Royalty Partners, LP has a 1 year low of $13.24 and a 1 year high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.45%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently -1,454.55%.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the transaction, the insider now owns 49,263 shares in the company, valued at $682,785.18. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

About Kimbell Royalty Partners