Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Update

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 1,210,000 shares, a decrease of 16.0% from the April 30th total of 1,440,000 shares. Based on an average daily trading volume, of 878,700 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.3% of the shares of the stock are sold short.

Insider Activity

In related news, insider Blayne Rhynsburger sold 7,851 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. This represents a 13.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. lifted its position in shares of Kimbell Royalty Partners by 30.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock worth $70,000 after purchasing an additional 1,000 shares during the period. Virtus ETF Advisers LLC lifted its holdings in Kimbell Royalty Partners by 10.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,053 shares of the energy company's stock worth $179,000 after buying an additional 1,035 shares during the period. Wedbush Securities Inc. lifted its holdings in Kimbell Royalty Partners by 3.4% during the fourth quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company's stock worth $632,000 after buying an additional 1,298 shares during the period. Ruggaard & Associates LLC boosted its position in Kimbell Royalty Partners by 12.4% during the 1st quarter. Ruggaard & Associates LLC now owns 11,790 shares of the energy company's stock valued at $165,000 after acquiring an additional 1,300 shares in the last quarter. Finally, AlphaCore Capital LLC increased its holdings in shares of Kimbell Royalty Partners by 0.9% in the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company's stock valued at $2,421,000 after acquiring an additional 1,350 shares during the period. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Trading Up 0.7%

Shares of NYSE:KRP traded up $0.09 during trading on Thursday, reaching $13.13. 325,511 shares of the company were exchanged, compared to its average volume of 873,060. The business's fifty day simple moving average is $12.76 and its 200-day simple moving average is $14.49. 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 has a 12-month low of $10.98 and a 12-month high of $17.07. The firm has a market capitalization of $1.40 billion, a PE ratio of 25.74, a P/E/G ratio of 4.25 and a beta of 0.44.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.05. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business had revenue of $84.21 million during the quarter, compared to analyst estimates of $84.05 million. During the same period in the previous year, the company posted $0.04 EPS. Kimbell Royalty Partners's revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Kimbell Royalty Partners will post 0.65 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Tuesday, May 20th were issued a $0.47 dividend. This is an increase from Kimbell Royalty Partners's previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a dividend yield of 14.32%. The ex-dividend date of this dividend was Tuesday, May 20th. Kimbell Royalty Partners's payout ratio is presently 3,760.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KRP shares. KeyCorp lowered 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. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Bank of America cut their target price on 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. Raymond James reissued a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Finally, Mizuho began coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They set a "neutral" rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.40.

About Kimbell Royalty Partners