HighTower Advisors LLC Increases Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

HighTower Advisors LLC grew its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 42.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,423 shares of the energy company’s stock after purchasing an additional 6,401 shares during the period. HighTower Advisors LLC’s holdings in Kimbell Royalty Partners were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Raymond James Trust N.A. increased its stake in Kimbell Royalty Partners by 6.6% in the 2nd quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock worth $257,000 after acquiring an additional 974 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Kimbell Royalty Partners during the second quarter valued at $199,000. Summit Securities Group LLC bought a new position in Kimbell Royalty Partners during the second quarter valued at $43,000. International Assets Investment Management LLC purchased a new position in shares of Kimbell Royalty Partners in the 2nd quarter worth $99,000. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Kimbell Royalty Partners by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 196,794 shares of the energy company’s stock worth $3,220,000 after buying an additional 39,150 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Partners Stock Up 0.2 %

NYSE:KRP opened at $15.41 on Monday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $16.02 and a 200-day simple moving average of $16.12.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $83.79 million during the quarter, compared to analyst estimates of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Analysts anticipate that Kimbell Royalty Partners, LP will post 0.69 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 10.64%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 321.57%.

Insider Buying and Selling at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now directly owns 45,164 shares of the company’s stock, valued at $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KRP has been the subject of a number of analyst reports. KeyCorp lowered their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lowered their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kimbell Royalty Partners currently has a consensus rating of “Moderate Buy” and an average price target of $20.40.

About Kimbell Royalty Partners