Millennium Management LLC Sells 20,420 Shares of 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,951 shares of the energy company's stock after selling 20,420 shares during the quarter. Millennium Management LLC owned approximately 0.08% of Kimbell Royalty Partners worth $1,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of Kimbell Royalty Partners by 18.2% in the fourth quarter. LPL Financial LLC now owns 284,626 shares of the energy company's stock worth $4,619,000 after buying an additional 43,852 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter worth about $1,948,000. Raymond James Financial Inc. acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter worth about $30,449,000. Barclays PLC boosted its holdings in shares of Kimbell Royalty Partners by 1,279.4% in the fourth quarter. Barclays PLC now owns 187,671 shares of the energy company's stock worth $3,046,000 after buying an additional 174,066 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Kimbell Royalty Partners by 16.0% in the fourth quarter. Swiss National Bank now owns 135,300 shares of the energy company's stock worth $2,196,000 after buying an additional 18,700 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp decreased their target price on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and decreased their target price for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a "moderate buy" rating in a research report on Friday, March 14th. Mizuho initiated coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They issued a "neutral" rating and a $16.00 price target for the company. Finally, Bank of America reduced their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a research report on Tuesday, March 4th. One equities 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.40.

Kimbell Royalty Partners Stock Up 2.3%

Shares of NYSE KRP traded up $0.30 during mid-day trading on Friday, reaching $13.42. The company had a trading volume of 438,903 shares, compared to its average volume of 612,319. The stock has a fifty day moving average of $12.72 and a two-hundred day moving average of $14.43. 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 company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 4.25 and a beta of 0.51. Kimbell Royalty Partners, LP has a 12-month low of $10.98 and a 12-month high of $17.07.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $84.21 million for 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 company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, equities research analysts expect that Kimbell Royalty Partners, LP will post 0.65 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Tuesday, May 20th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 14.01%. The ex-dividend date of this dividend was Tuesday, May 20th. This is a positive change from Kimbell Royalty Partners's previous quarterly dividend of $0.40. Kimbell Royalty Partners's dividend payout ratio (DPR) is presently 3,760.00%.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $13.27, for a total transaction 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 trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.60% of the company's stock.

Kimbell Royalty Partners Profile