Millennium Management LLC Sells 156,767 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Millennium Management LLC lowered its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 22.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 550,226 shares of the energy company’s stock after selling 156,767 shares during the period. Millennium Management LLC owned 0.58% of Kimbell Royalty Partners worth $9,002,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KRP. EverSource Wealth Advisors LLC purchased a new stake in Kimbell Royalty Partners during the 2nd quarter worth about $25,000. Summit Securities Group LLC bought a new stake in shares of Kimbell Royalty Partners during the second quarter valued at about $43,000. International Assets Investment Management LLC bought a new stake in shares of Kimbell Royalty Partners during the second quarter valued at about $99,000. Bridgewealth Advisory Group LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth about $165,000. Finally, Argent Trust Co bought a new position in shares of Kimbell Royalty Partners in the second quarter valued at approximately $176,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Partners Stock Down 1.5 %

KRP opened at $16.22 on Wednesday. The business’s fifty day simple moving average is $15.82 and its 200 day simple moving average is $16.17. Kimbell Royalty Partners, LP has a 52 week low of $14.26 and a 52 week high of $17.11. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.55 billion, a PE ratio of 27.03, a P/E/G ratio of 1.63 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same period in the prior year, the business posted $0.23 earnings per share. The business’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts expect that Kimbell Royalty Partners, LP will post 0.83 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid 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 dividend yield of 10.36%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 280.00%.

Insider Activity 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 dated Wednesday, August 14th. The shares were 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 in the company, valued at $788,076.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KRP shares. Bank of America reaffirmed an “underperform” rating and set a $16.00 target price on shares of Kimbell Royalty Partners in a report on Friday, June 14th. Truist Financial reduced their price target on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Kimbell Royalty Partners Company Profile