Howard Financial Services LTD. Takes Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Howard Financial Services LTD. bought a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,760 shares of the energy company’s stock, valued at approximately $205,000.

A number of other hedge funds have also added to or reduced their stakes in the business. First Financial Bankshares Inc acquired a new position in shares of Kimbell Royalty Partners during the 4th quarter worth about $4,200,000. Board of Trustees of The Leland Stanford Junior University grew its stake in Kimbell Royalty Partners by 148.1% in the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company’s stock valued at $1,680,000 after purchasing an additional 66,638 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Kimbell Royalty Partners by 189.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after purchasing an additional 899,322 shares in the last quarter. Carson Advisory Inc. increased its position in shares of Kimbell Royalty Partners by 6.7% during the 1st quarter. Carson Advisory Inc. now owns 48,850 shares of the energy company’s stock worth $758,000 after purchasing an additional 3,059 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in shares of Kimbell Royalty Partners by 16.8% during the 1st quarter. Freestone Capital Holdings LLC now owns 286,128 shares of the energy company’s stock worth $4,441,000 after purchasing an additional 41,134 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.

Analyst Ratings Changes

KRP has been the topic of several recent analyst reports. Bank of America restated an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Truist Financial lowered their price target on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $16.15 on Wednesday. The stock has a market cap of $1.54 billion, a PE ratio of 27.03, a P/E/G ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. The firm has a 50-day moving average of $15.82 and a 200-day moving average of $16.17. Kimbell Royalty Partners, LP has a 52-week low of $14.26 and a 52-week high of $17.11.

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

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.40%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio is 280.00%.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

About Kimbell Royalty Partners