Kimbell Royalty Partners (NYSE:KRP) Sees Large Volume Increase

Kimbell Royalty Partners, LP (NYSE:KRP) saw strong trading volume on Friday . 2,704 shares traded hands during trading, a decline of 98% from the previous session’s volume of 148,430 shares.The stock last traded at $13.03 and had previously closed at $12.91.

A number of equities analysts recently weighed in on the company. Wells Fargo & Company reissued an “equal weight” rating and set a $15.00 price objective on shares of Kimbell Royalty Partners in a report on Wednesday, March 24th. KeyCorp raised their price target on Kimbell Royalty Partners from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, May 14th. Raymond James raised their price target 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. Finally, Zacks Investment Research lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating in a research report on Friday, May 7th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $13.13.

The stock has a market cap of $788.68 million, a P/E ratio of -3.65 and a beta of 2.10. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $11.63.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, May 6th. The energy company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). Kimbell Royalty Partners had a negative net margin of 165.26% and a positive return on equity of 3.94%. As a group, research analysts predict that Kimbell Royalty Partners, LP will post 0.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 10th. Shareholders of record on Monday, May 3rd were paid a dividend of $0.27 per share. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, April 30th. This represents a $1.08 dividend on an annualized basis and a yield of 8.29%. Kimbell Royalty Partners’s payout ratio is presently 118.68%.

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 3,233 shares of Kimbell Royalty Partners stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $12.83, for a total transaction of $41,479.39. Following the completion of the transaction, the insider now owns 40,503 shares in the company, valued at $519,653.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.20% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in KRP. Center for Financial Planning Inc. purchased a new position in shares of Kimbell Royalty Partners in the first quarter worth $39,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Kimbell Royalty Partners in the first quarter worth $62,000. ExodusPoint Capital Management LP purchased a new position in shares of Kimbell Royalty Partners in the fourth quarter worth $110,000. Stephens Inc. AR purchased a new position in shares of Kimbell Royalty Partners in the first quarter worth $118,000. Finally, Meridian Wealth Advisors LLC purchased a new position in shares of Kimbell Royalty Partners in the first quarter worth $124,000. Institutional investors and hedge funds own 23.35% of the company’s stock.

About Kimbell Royalty Partners (NYSE:KRP)

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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