American Century Companies Inc. raised its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP – Free Report) by 36.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 584,275 shares of the energy company’s stock after purchasing an additional 156,769 shares during the period. American Century Companies Inc. owned 0.89% of Kimbell Royalty Partners worth $8,899,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Kimbell Royalty Partners during the 4th quarter valued at about $25,000. Trust Co. of Vermont increased its position in Kimbell Royalty Partners by 159.0% during the 4th quarter. Trust Co. of Vermont now owns 1,629 shares of the energy company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Dorsey Wright & Associates purchased a new position in Kimbell Royalty Partners during the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC purchased a new position in Kimbell Royalty Partners during the 3rd quarter valued at about $34,000. Finally, UBS Group AG purchased a new position in Kimbell Royalty Partners during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 36.70% of the company’s stock.
Wall Street Analysts Forecast Growth
KRP has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Kimbell Royalty Partners from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Raymond James boosted their price objective on shares of Kimbell Royalty Partners from $20.00 to $22.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 7th. Finally, Citigroup reiterated a “buy” rating and set a $20.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 30th.
Insider Buying and Selling at Kimbell Royalty Partners
In other Kimbell Royalty Partners news, Director Mitch S. Wynne sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $14.88, for a total transaction of $297,600.00. Following the transaction, the director now owns 208,881 shares in the company, valued at approximately $3,108,149.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders.
Kimbell Royalty Partners Trading Up 2.3 %
NYSE KRP opened at $15.71 on Monday. The company has a quick ratio of 6.97, a current ratio of 6.97 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.36 billion, a PE ratio of 9.46 and a beta of 1.32. The company has a 50 day moving average price of $14.96 and a 200 day moving average price of $15.24. Kimbell Royalty Partners, LP has a 52 week low of $13.85 and a 52 week high of $19.80.
Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The energy company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. Kimbell Royalty Partners had a net margin of 38.45% and a return on equity of 19.44%. The business had revenue of $60.75 million for the quarter, compared to analyst estimates of $53.46 million. As a group, sell-side analysts forecast that Kimbell Royalty Partners, LP will post 1.31 EPS for the current fiscal year.
Kimbell Royalty Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were paid a dividend of $0.39 per share. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 11th. This represents a $1.56 dividend on an annualized basis and a yield of 9.93%. Kimbell Royalty Partners’s dividend payout ratio is presently 93.98%.
About Kimbell Royalty Partners
Kimbell Royalty Partners, LP, together with its subsidiaries, engages in acquiring and owning mineral and royalty interests in oil and natural gas properties in the United States. The company serves as the general partner of the company. Kimbell Royalty Partners, LP was incorporated in 2015 and is based in Fort Worth, Texas.
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