Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Update

Kimbell Royalty Partners, LP (NYSE:KRP) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 1,340,000 shares, an increase of 5.5% from the March 15th total of 1,270,000 shares. Based on an average daily trading volume, of 358,100 shares, the days-to-cover ratio is presently 3.7 days.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $16.01 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.40 and a beta of 1.08. The company’s fifty day moving average is $15.61 and its two-hundred day moving average is $15.49. Kimbell Royalty Partners has a 52-week low of $14.02 and a 52-week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.13). The company had revenue of $99.20 million during the quarter, compared to analyst estimates of $83.89 million. Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. Equities research analysts forecast that Kimbell Royalty Partners will post 0.79 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th were given a $0.43 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.72 annualized dividend and a yield of 10.74%. Kimbell Royalty Partners’s dividend payout ratio is 186.96%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Raymond James cut their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Truist Financial lowered their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. KeyCorp lowered their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. Finally, TD Securities lowered their target price on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kimbell Royalty Partners has an average rating of “Buy” and an average price target of $20.86.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now owns 55,164 shares in the company, valued at approximately $860,558.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Brett G. Taylor sold 27,163 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total transaction of $421,298.13. Following the transaction, the director now owns 299,030 shares in the company, valued at approximately $4,637,955.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Blayne Rhynsburger sold 6,487 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total transaction of $101,197.20. Following the transaction, the insider now owns 55,164 shares in the company, valued at approximately $860,558.40. The disclosure for this sale can be found here. Insiders sold a total of 100,672 shares of company stock worth $1,571,185 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its position in Kimbell Royalty Partners by 4.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,303 shares of the energy company’s stock worth $261,000 after purchasing an additional 628 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Kimbell Royalty Partners by 2.2% during the 1st quarter. HighTower Advisors LLC now owns 32,090 shares of the energy company’s stock valued at $489,000 after acquiring an additional 700 shares in the last quarter. Annandale Capital LLC boosted its position in shares of Kimbell Royalty Partners by 8.1% during the 3rd quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock valued at $181,000 after acquiring an additional 850 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Kimbell Royalty Partners by 40.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,500 shares of the energy company’s stock valued at $55,000 after acquiring an additional 1,000 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Kimbell Royalty Partners by 13.5% during the 3rd quarter. UBS Group AG now owns 8,495 shares of the energy company’s stock valued at $136,000 after acquiring an additional 1,012 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners