Renaissance Technologies LLC grew its holdings in Kimbell Royalty Partners, LP (NYSE:KRP) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,480 shares of the energy company’s stock after purchasing an additional 23,627 shares during the quarter. Renaissance Technologies LLC owned about 0.28% of Kimbell Royalty Partners worth $1,678,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. G.F.W. Energy XI L.P. grew its position in Kimbell Royalty Partners by 50.5% during the fourth quarter. G.F.W. Energy XI L.P. now owns 3,138,605 shares of the energy company’s stock worth $24,826,000 after buying an additional 1,053,412 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Kimbell Royalty Partners during the fourth quarter worth about $110,000. Raymond James Financial Services Advisors Inc. grew its position in Kimbell Royalty Partners by 2.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 178,491 shares of the energy company’s stock worth $1,412,000 after buying an additional 3,462 shares in the last quarter. Wells Fargo & Company MN grew its position in Kimbell Royalty Partners by 38.4% during the fourth quarter. Wells Fargo & Company MN now owns 84,597 shares of the energy company’s stock worth $669,000 after buying an additional 23,467 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Kimbell Royalty Partners during the first quarter worth about $62,000. 23.37% of the stock is currently owned by institutional investors.
NYSE:KRP opened at $12.05 on Thursday. Kimbell Royalty Partners, LP has a 1 year low of $5.57 and a 1 year high of $13.34. The firm has a 50 day moving average price of $12.77. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $729.36 million, a PE ratio of -3.38 and a beta of 2.10.
The company also recently announced a quarterly dividend, which was paid on Monday, May 10th. Stockholders of record on Monday, May 3rd were paid a $0.27 dividend. The ex-dividend date was Friday, April 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 8.96%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.19. Kimbell Royalty Partners’s payout ratio is 118.68%.
A number of equities research analysts recently weighed in on KRP shares. Raymond James lifted their target price on Kimbell Royalty Partners from $14.00 to $17.00 and gave the stock a “strong-buy” rating in a research report on Monday, May 10th. KeyCorp lifted their target price on Kimbell Royalty Partners from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 16th. Zacks Investment Research cut shares of Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 15th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $15.00 price target on shares of Kimbell Royalty Partners in a research note on Wednesday, March 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Kimbell Royalty Partners currently has an average rating of “Buy” and an average price target of $13.57.
In related news, major shareholder Kkr Upstream Associates Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $12.20, for a total value of $12,200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Blayne Rhynsburger sold 3,233 shares of the firm’s stock in a transaction that occurred on Wednesday, May 26th. The shares were sold at an average price of $12.83, for a total transaction of $41,479.39. Following the completion of the sale, the insider now directly owns 40,503 shares of the company’s stock, valued at approximately $519,653.49. The disclosure for this sale can be found here. Insiders own 14.20% of the company’s stock.
Kimbell Royalty Partners Profile
Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of February 26, 2021, the company owned mineral and royalty interests in approximately 13 million gross acres and overriding royalty interests in approximately 4.6 million gross acres.
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