T. Rowe Price Investment Management Inc. Cuts Stock Holdings in Kimbell Royalty Partners, LP (NYSE:KRP)

T. Rowe Price Investment Management Inc. decreased its holdings in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,165,346 shares of the energy company's stock after selling 126,995 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.27% of Kimbell Royalty Partners worth $35,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Stifel Financial Corp increased its position in shares of Kimbell Royalty Partners by 6.2% during the fourth quarter. Stifel Financial Corp now owns 250,502 shares of the energy company's stock worth $4,066,000 after purchasing an additional 14,557 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in Kimbell Royalty Partners by 30.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock valued at $70,000 after buying an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Kimbell Royalty Partners by 230.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,922 shares of the energy company's stock worth $145,000 after acquiring an additional 6,222 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Kimbell Royalty Partners by 2.0% during the fourth quarter. First Trust Advisors LP now owns 344,227 shares of the energy company's stock worth $5,587,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Kimbell Royalty Partners by 5.2% during the fourth quarter. Epoch Investment Partners Inc. now owns 208,278 shares of the energy company's stock valued at $3,380,000 after acquiring an additional 10,352 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Kimbell Royalty Partners Stock Performance

NYSE:KRP traded up $0.16 during trading hours on Thursday, reaching $12.16. The company had a trading volume of 471,932 shares, compared to its average volume of 950,114. The firm has a market cap of $1.30 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners, LP has a 1-year low of $10.98 and a 1-year high of $17.07. The business's 50 day moving average price is $13.38 and its 200-day moving average price is $15.03. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.16%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio (DPR) is presently -1,454.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KRP shares. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Bank of America reduced their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a research note on Tuesday, March 4th. Mizuho started coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They issued a "neutral" rating and a $16.00 price objective on the stock. KeyCorp decreased their target price on Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Truist Financial downgraded shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and cut their price target for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kimbell Royalty Partners currently has a consensus rating of "Hold" and an average price target of $17.40.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 49,263 shares of the company's stock, valued at $682,785.18. This represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is owned by company insiders.

Kimbell Royalty Partners Company Profile