Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) insider Blayne Rhynsburger sold 2,000 shares of the 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 in the company, 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 Securities & Exchange Commission, which is accessible through this link.
Blayne Rhynsburger also recently made the following trade(s):
- On Tuesday, March 18th, Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86.
Kimbell Royalty Partners Trading Down 1.0%
NYSE:KRP traded down $0.13 during trading hours on Tuesday, hitting $13.17. The company had a trading volume of 646,873 shares, compared to its average volume of 608,691. The company has a market capitalization of $1.41 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 4.25 and a beta of 0.44. The stock has a 50-day moving average price of $12.77 and a 200 day moving average price of $14.50. Kimbell Royalty Partners, LP has a 52 week low of $10.98 and a 52 week high of $17.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.
Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last released its quarterly earnings results 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 business had revenue of $84.21 million for the quarter, compared to analysts' expectations 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 for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 earnings per share. On average, equities research analysts predict that Kimbell Royalty Partners, LP will post 0.65 EPS for the current fiscal year.
Kimbell Royalty Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Tuesday, May 20th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.88 annualized dividend and a yield of 14.27%. This is a boost from Kimbell Royalty Partners's previous quarterly dividend of $0.40. Kimbell Royalty Partners's payout ratio is 3,760.00%.
Wall Street Analyst Weigh In
A number of research analysts have commented on KRP shares. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Bank of America cut their target price 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. Mizuho began coverage on shares of Kimbell Royalty Partners in a report on Monday, March 31st. They issued a "neutral" rating and a $16.00 target price on the stock. KeyCorp cut their target price on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and cut their target price for the stock from $22.00 to $16.00 in a 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 given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $17.40.
Read Our Latest Analysis on Kimbell Royalty Partners
Institutional Trading of Kimbell Royalty Partners
Several large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Kimbell Royalty Partners in the first quarter valued at $297,000. Yaupon Capital Management LP purchased a new position in Kimbell Royalty Partners during the first quarter valued at $6,300,000. Zimmer Partners LP purchased a new position in Kimbell Royalty Partners during the first quarter valued at $1,276,000. Ruggaard & Associates LLC lifted its position in Kimbell Royalty Partners by 12.4% during the first quarter. Ruggaard & Associates LLC now owns 11,790 shares of the energy company's stock valued at $165,000 after buying an additional 1,300 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Kimbell Royalty Partners by 604.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company's stock valued at $23,683,000 after buying an additional 1,451,666 shares during the period. Institutional investors own 25.78% of the company's stock.
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