1,876,085 Shares in Kimbell Royalty Partners, LP (NYSE:KRP) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,876,085 shares of the energy company's stock, valued at approximately $30,449,000. Raymond James Financial Inc. owned approximately 1.96% of Kimbell Royalty Partners at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc grew its position in shares of Kimbell Royalty Partners by 21.8% during the 4th quarter. Legal & General Group Plc now owns 55,500 shares of the energy company's stock valued at $901,000 after buying an additional 9,933 shares during the last quarter. Cerity Partners LLC increased its position in Kimbell Royalty Partners by 678.3% in the fourth quarter. Cerity Partners LLC now owns 142,300 shares of the energy company's stock worth $2,310,000 after buying an additional 124,016 shares during the period. Ruggaard & Associates LLC bought a new stake in Kimbell Royalty Partners in the fourth quarter valued at $170,000. Wedbush Securities Inc. boosted its holdings in shares of Kimbell Royalty Partners by 3.4% during the fourth quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company's stock valued at $632,000 after acquiring an additional 1,298 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Kimbell Royalty Partners by 141.8% during the fourth quarter. Wells Fargo & Company MN now owns 255,721 shares of the energy company's stock worth $4,150,000 after acquiring an additional 149,960 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KRP. Truist Financial lowered shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and reduced their target price for the company from $22.00 to $16.00 in a research note on Tuesday, March 4th. Raymond James restated a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Royal Bank of Canada raised Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Mizuho assumed coverage on Kimbell Royalty Partners in a research note on Monday, March 31st. They issued a "neutral" rating and a $16.00 price target for the company. Finally, Bank of America cut 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 research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.40.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 7,851 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the transaction, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.60% of the stock is owned by company insiders.

Kimbell Royalty Partners Price Performance

NYSE KRP traded up $0.10 on Wednesday, reaching $12.52. 130,968 shares of the stock traded hands, compared to its average volume of 585,919. Kimbell Royalty Partners, LP has a 12 month low of $10.98 and a 12 month high of $17.07. 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 firm's fifty day simple moving average is $13.79 and its 200 day simple moving average is $15.19. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 4.25 and a beta of 0.65.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.78%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners's payout ratio is currently -1,454.55%.

Kimbell Royalty Partners Profile