Short Interest in Kimbell Royalty Partners, LP (NYSE:KRP) Increases By 5.5%

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,340,000 shares, an increase of 5.5% from the March 15th total of 1,270,000 shares. Based on an average daily volume of 358,100 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KRP shares. Truist Financial dropped their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a "buy" rating for the company in a report on Friday, April 5th. Raymond James dropped their target price on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a "strong-buy" rating for the company in a report on Wednesday, January 24th. KeyCorp dropped their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, January 11th. Finally, TD Securities dropped their target price on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Kimbell Royalty Partners has an average rating of "Buy" and an average price target of $20.86.

Kimbell Royalty Partners Trading Down 0.2 %

KRP stock traded down $0.03 during trading on Tuesday, reaching $15.86. The company had a trading volume of 213,059 shares, compared to its average volume of 349,696. Kimbell Royalty Partners has a 52 week low of $14.02 and a 52 week high of $17.11. The company has a market cap of $1.50 billion, a P/E ratio of 17.16 and a beta of 1.08. The business has a 50 day moving average of $15.58 and a 200 day moving average of $15.49. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last announced its earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.13). Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. The business had revenue of $99.20 million for the quarter, compared to the consensus estimate of $83.89 million. During the same period in the prior year, the business posted $0.48 EPS. Kimbell Royalty Partners's revenue for the quarter was up 44.4% on a year-over-year basis. As a group, sell-side analysts forecast that Kimbell Royalty Partners will post 0.79 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date of this dividend was Tuesday, March 12th. Kimbell Royalty Partners's dividend payout ratio is 186.96%.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, Director Brett G. Taylor sold 22,327 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $15.68, for a total value of $350,087.36. Following the completion of the sale, the director now directly owns 402,536 shares in the company, valued at approximately $6,311,764.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 22,326 shares of Kimbell Royalty Partners stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $15.59, for a total value of $348,062.34. Following the transaction, the director now directly owns 380,210 shares of the company's stock, valued at approximately $5,927,473.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brett G. Taylor sold 22,327 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $15.68, for a total transaction of $350,087.36. Following the sale, the director now directly owns 402,536 shares of the company's stock, valued at approximately $6,311,764.48. The disclosure for this sale can be found here. Insiders sold a total of 100,672 shares of company stock worth $1,571,185 over the last three months. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Kimbell Royalty Partners by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 388,980 shares of the energy company's stock valued at $5,854,000 after purchasing an additional 5,269 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Kimbell Royalty Partners by 8.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 77,423 shares of the energy company's stock valued at $1,165,000 after buying an additional 6,261 shares during the last quarter. Barclays PLC grew its holdings in shares of Kimbell Royalty Partners by 11.0% during the fourth quarter. Barclays PLC now owns 13,216 shares of the energy company's stock valued at $199,000 after buying an additional 1,307 shares during the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $227,000. Finally, Board of Trustees of The Leland Stanford Junior University grew its holdings in shares of Kimbell Royalty Partners by 148.1% during the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 111,638 shares of the energy company's stock valued at $1,680,000 after buying an additional 66,638 shares during the last quarter. Institutional investors own 25.78% of the company's stock.

About Kimbell Royalty Partners

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