Bank of America Corp DE Sells 77,863 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Bank of America Corp DE decreased its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,151 shares of the energy company's stock after selling 77,863 shares during the quarter. Bank of America Corp DE's holdings in Kimbell Royalty Partners were worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. raised its stake in Kimbell Royalty Partners by 15.4% during the fourth quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company's stock worth $35,842,000 after buying an additional 294,789 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $30,449,000. King Luther Capital Management Corp lifted its stake in shares of Kimbell Royalty Partners by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company's stock valued at $7,192,000 after buying an additional 2,200 shares in the last quarter. Orvieto Partners L.P. acquired a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at about $6,103,000. Finally, First Trust Advisors LP lifted its position in Kimbell Royalty Partners by 2.0% in the 4th quarter. First Trust Advisors LP now owns 344,227 shares of the energy company's stock valued at $5,587,000 after acquiring an additional 6,867 shares in the last quarter. Institutional investors own 25.78% of the company's stock.

Insider Transactions at Kimbell Royalty Partners

In related 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 transaction of $26,540.00. Following the completion of the sale, the insider now directly owns 47,263 shares in the company, valued at $627,180.01. This represents a 4.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Mizuho initiated coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They issued a "neutral" rating and a $16.00 target price on the stock. Truist Financial lowered shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and decreased their price objective for the company from $22.00 to $16.00 in a research note on Tuesday, March 4th. Royal Bank of Canada upgraded Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Raymond James reaffirmed a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Bank of America lowered their price objective on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.40.

Kimbell Royalty Partners Price Performance

Kimbell Royalty Partners stock traded up $0.07 during midday trading on Thursday, reaching $13.97. 94,530 shares of the stock were exchanged, compared to its average volume of 611,275. The firm has a market cap of $1.49 billion, a PE ratio of 27.39, a PEG ratio of 4.25 and a beta of 0.51. Kimbell Royalty Partners, LP has a 52 week low of $10.98 and a 52 week high of $17.07. The company's fifty day moving average is $12.74 and its 200-day moving average is $14.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20.

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

Kimbell Royalty Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.88 annualized dividend and a yield of 13.46%. This is a positive change from Kimbell Royalty Partners's previous quarterly dividend of $0.40. Kimbell Royalty Partners's payout ratio is 3,760.00%.

About Kimbell Royalty Partners