Natural Resource Partners LP $NRP Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP reduced its NRP position by 3.4%, selling 21,000 shares in the second quarter but retaining 592,072 shares worth approximately $57.4 million, or 4.47% of the company.
• Natural Resource Partners reported strong quarterly results, with EPS of $1.85 versus the $0.30 consensus estimate and revenue of $52.97 million, ahead of the $37.70 million forecast.
• The company paid a quarterly dividend of $0.75, equivalent to $3.00 annually and a 2.7% yield. NRP shares opened at $111.50, while analysts maintained a consensus “Hold” rating.

Corient Private Wealth LP trimmed its position in Natural Resource Partners LP (NYSE:NRP - Free Report) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,072 shares of the energy company's stock after selling 21,000 shares during the period. Corient Private Wealth LP owned about 4.47% of Natural Resource Partners worth $57,431,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NRP. Bank of America Corp DE grew its holdings in shares of Natural Resource Partners by 48.2% during the first quarter. Bank of America Corp DE now owns 183,026 shares of the energy company's stock worth $22,146,000 after buying an additional 59,523 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Natural Resource Partners by 18.2% during the first quarter. Royal Bank of Canada now owns 18,335 shares of the energy company's stock valued at $2,219,000 after buying an additional 2,828 shares during the period. Waverly Advisors LLC acquired a new stake in Natural Resource Partners during the first quarter worth approximately $3,146,000. Morningstar Investment Management LLC acquired a new stake in Natural Resource Partners during the first quarter worth approximately $391,000. Finally, Mizuho Markets Americas LLC purchased a new stake in Natural Resource Partners in the 1st quarter worth approximately $3,073,000. 31.77% of the stock is owned by institutional investors and hedge funds.

Natural Resource Partners Price Performance

Shares of Natural Resource Partners stock opened at $111.50 on Friday. The business's fifty day moving average price is $103.80 and its 200 day moving average price is $109.54. Natural Resource Partners LP has a twelve month low of $95.51 and a twelve month high of $128.60. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.48 billion, a P/E ratio of 14.22 and a beta of 0.18.

Natural Resource Partners (NYSE:NRP - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $1.55. The company had revenue of $52.97 million for the quarter, compared to the consensus estimate of $37.70 million. Natural Resource Partners had a return on equity of 16.65% and a net margin of 57.13%.

Natural Resource Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 18th were issued a $0.75 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.7%. Natural Resource Partners's dividend payout ratio (DPR) is presently 38.27%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Natural Resource Partners from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Natural Resource Partners currently has a consensus rating of "Hold".

Insiders Place Their Bets

In other Natural Resource Partners news, EVP Gregory Wooten sold 2,200 shares of Natural Resource Partners stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $110.89, for a total transaction of $243,958.00. Following the transaction, the executive vice president directly owned 32,634 shares of the company's stock, valued at $3,618,784.26. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 35.30% of the stock is currently owned by company insiders.

Natural Resource Partners Company Profile

Natural Resource Partners L.P. NYSE: NRP is a diversified natural resource company that owns, manages and leases mineral interests in the United States. Its portfolio includes rights related to coal, oil and natural gas, aggregates and other industrial minerals. Rather than generally operating mines or wells itself, the company leases its properties to third-party operators and receives royalty and other payments based on their production and use of the resources.

NRP's mineral interests are located across several major U.S.

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