Kimbell Royalty Partners LP (NYSE:KRP) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 71,800 shares, a growth of 96.2% from the July 31st total of 36,600 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 75,700 shares, the short-interest ratio is presently 0.9 days.
In related news, Director William H. Adams III acquired 5,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $14.60 per share, for a total transaction of $73,000.00. Following the completion of the transaction, the director now directly owns 108,005 shares of the company’s stock, valued at approximately $1,576,873. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 14.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD bought a new position in Kimbell Royalty Partners in the second quarter valued at approximately $13,333,000. Yorktown Energy Partners X L.P. bought a new stake in shares of Kimbell Royalty Partners during the second quarter worth $13,183,000. Lancaster Investment Management LLP grew its stake in shares of Kimbell Royalty Partners by 10.7% during the first quarter. Lancaster Investment Management LLP now owns 536,385 shares of the energy company’s stock worth $9,800,000 after buying an additional 51,629 shares during the last quarter. Lee Financial Co grew its stake in shares of Kimbell Royalty Partners by 1.7% during the second quarter. Lee Financial Co now owns 201,704 shares of the energy company’s stock worth $3,258,000 after buying an additional 3,282 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Kimbell Royalty Partners during the second quarter worth $1,688,000. 58.95% of the stock is currently owned by institutional investors and hedge funds.
KRP has been the subject of a number of analyst reports. UBS Group initiated coverage on shares of Kimbell Royalty Partners in a research report on Friday, May 17th. They issued a “buy” rating and a $22.00 price target for the company. SunTrust Banks initiated coverage on shares of Kimbell Royalty Partners in a research report on Monday, June 17th. They issued a “hold” rating and a $19.00 price target for the company. TheStreet downgraded shares of Kimbell Royalty Partners from a “c” rating to a “d+” rating in a research report on Friday, August 9th. Stifel Nicolaus downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their price target for the company from $19.00 to $18.00 in a research report on Tuesday, May 28th. Finally, Zacks Investment Research upgraded shares of Kimbell Royalty Partners from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.63.
NYSE:KRP traded up $0.09 during mid-day trading on Friday, reaching $14.51. The stock had a trading volume of 900 shares, compared to its average volume of 32,292. The stock has a 50-day simple moving average of $14.98 and a two-hundred day simple moving average of $16.62. The stock has a market capitalization of $334.24 million, a PE ratio of -71.15 and a beta of 1.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 7.07 and a quick ratio of 7.07. Kimbell Royalty Partners has a 12 month low of $13.01 and a 12 month high of $23.48.
Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, August 8th. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.45. The business had revenue of $31.94 million for the quarter, compared to analysts’ expectations of $27.75 million. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.83%. Equities analysts expect that Kimbell Royalty Partners will post 0.83 EPS for the current year.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.
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