Kimbell Royalty Partners, LP (NYSE:KRP) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 141.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 255,721 shares of the energy company's stock after acquiring an additional 149,960 shares during the period. Wells Fargo & Company MN owned approximately 0.27% of Kimbell Royalty Partners worth $4,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KRP. American Century Companies Inc. grew its position in Kimbell Royalty Partners by 15.4% during the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company's stock worth $35,842,000 after purchasing an additional 294,789 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at $30,449,000. King Luther Capital Management Corp increased its position in shares of Kimbell Royalty Partners by 0.5% in the 4th quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company's stock valued at $7,192,000 after acquiring an additional 2,200 shares during the period. LPL Financial LLC raised its stake in Kimbell Royalty Partners by 18.2% in the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company's stock worth $4,619,000 after acquiring an additional 43,852 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its position in Kimbell Royalty Partners by 38.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company's stock worth $4,334,000 after acquiring an additional 74,098 shares during the period. Institutional investors and hedge funds own 25.78% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KRP. Royal Bank of Canada upgraded Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Raymond James restated a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Truist Financial lowered shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and cut their price objective for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Mizuho assumed coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They set a "neutral" rating and a $16.00 target price for the company. Finally, KeyCorp reduced their price objective on Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Kimbell Royalty Partners has a consensus rating of "Hold" and an average price target of $17.40.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock traded up $0.03 on Friday, hitting $12.32. The company's stock had a trading volume of 310,110 shares, compared to its average volume of 590,611. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65. The firm has a fifty day moving average price of $13.59 and a 200-day moving average price of $15.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. Kimbell Royalty Partners, LP has a 1 year low of $10.98 and a 1 year high of $17.07.

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. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.99%. Kimbell Royalty Partners's dividend payout ratio (DPR) is -1,454.55%.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of the firm'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 value of $108,814.86. Following the transaction, the insider now owns 49,263 shares in the company, valued at $682,785.18. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is owned by corporate insiders.

Kimbell Royalty Partners Profile