Millennium Management LLC Decreases Stake in Kimbell Royalty Partners, LP (NYSE:KRP)

Millennium Management LLC trimmed its position in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,951 shares of the energy company's stock after selling 20,420 shares during the period. Millennium Management LLC owned approximately 0.08% of Kimbell Royalty Partners worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at about $30,449,000. Orvieto Partners L.P. acquired a new stake in Kimbell Royalty Partners in the 4th quarter worth approximately $6,103,000. American Century Companies Inc. grew its position in Kimbell Royalty Partners by 15.4% during the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company's stock worth $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 during the 4th quarter valued at approximately $3,151,000. Finally, Barclays PLC increased its stake in Kimbell Royalty Partners by 1,279.4% during the 4th quarter. Barclays PLC now owns 187,671 shares of the energy company's stock valued at $3,046,000 after purchasing an additional 174,066 shares in the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 2,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total value of $26,540.00. Following the sale, the insider now directly owns 47,263 shares of the company's stock, valued at $627,180.01. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.60% of the company's stock.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock traded up $0.30 on Friday, reaching $13.42. The company's stock had a trading volume of 438,903 shares, compared to its average volume of 609,603. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.44 billion, a P/E ratio of 26.31, a PEG ratio of 4.25 and a beta of 0.44. The stock has a 50-day moving average price of $12.74 and a 200-day moving average price of $14.47. Kimbell Royalty Partners, LP has a 52-week low of $10.98 and a 52-week high of $17.07.

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

Kimbell Royalty Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 20th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.01%. This is a boost from Kimbell Royalty Partners's previous quarterly dividend of $0.40. Kimbell Royalty Partners's payout ratio is currently 3,760.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Kimbell Royalty Partners from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Mizuho initiated coverage on Kimbell Royalty Partners in a research report on Monday, March 31st. They set a "neutral" rating and a $16.00 price target for the company. Bank of America dropped 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 report on Tuesday, March 4th. KeyCorp lowered their target price on Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a "moderate buy" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.40.

Kimbell Royalty Partners Profile