Ameriprise Financial Inc. Sells 110,786 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Ameriprise Financial Inc. cut its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 59.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,264 shares of the energy company's stock after selling 110,786 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.08% of Kimbell Royalty Partners worth $1,222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth about $30,449,000. Orvieto Partners L.P. acquired a new stake in Kimbell Royalty Partners during the 4th quarter valued at $6,103,000. American Century Companies Inc. raised its position in Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company's stock valued at $35,842,000 after purchasing an additional 294,789 shares during the last quarter. Marshall Wace LLP acquired a new position in Kimbell Royalty Partners in the fourth quarter worth $3,151,000. Finally, Barclays PLC grew its holdings in shares of Kimbell Royalty Partners by 1,279.4% during the fourth quarter. Barclays PLC now owns 187,671 shares of the energy company's stock worth $3,046,000 after purchasing an additional 174,066 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Kimbell Royalty Partners Trading Down 0.8%

NYSE:KRP traded down $0.11 on Wednesday, hitting $13.08. 818,419 shares of the stock were exchanged, compared to its average volume of 609,973. Kimbell Royalty Partners, LP has a 52 week low of $10.98 and a 52 week high of $17.07. The company's 50-day moving average price is $12.76 and its 200 day moving average price is $14.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 4.25 and a beta of 0.44.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.05. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm had revenue of $84.21 million for the quarter, compared to analysts' expectations of $84.05 million. During the same period last year, the firm earned $0.04 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 20th were given a $0.47 dividend. This is a positive change from Kimbell Royalty Partners's previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a dividend yield of 14.37%. The ex-dividend date of this dividend was Tuesday, May 20th. Kimbell Royalty Partners's dividend payout ratio (DPR) is currently 3,760.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KRP. Bank of America lowered their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a research note on Tuesday, March 4th. Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and lowered their price objective for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Mizuho started coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They set a "neutral" rating and a $16.00 target price on the stock. Raymond James reissued a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Finally, Wall Street Zen raised shares of Kimbell Royalty Partners from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $17.40.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 2,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total value of $26,540.00. Following the transaction, the insider now owns 47,263 shares of the company's stock, valued at approximately $627,180.01. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

About Kimbell Royalty Partners