Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 474,669 shares of the energy company’s stock after acquiring an additional 30,630 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.50% of Kimbell Royalty Partners worth $7,144,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KRP. American Century Companies Inc. purchased a new stake in shares of Kimbell Royalty Partners in the 1st quarter worth $719,000. US Bancorp DE purchased a new stake in shares of Kimbell Royalty Partners in the 1st quarter worth $114,000. Vanguard Group Inc. lifted its holdings in shares of Kimbell Royalty Partners by 35.8% in the 1st quarter. Vanguard Group Inc. now owns 207,439 shares of the energy company’s stock worth $3,373,000 after buying an additional 54,641 shares during the period. First Trust Advisors LP lifted its holdings in shares of Kimbell Royalty Partners by 2.7% in the 1st quarter. First Trust Advisors LP now owns 264,568 shares of the energy company’s stock worth $4,302,000 after buying an additional 6,875 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Kimbell Royalty Partners by 55.8% in the 1st quarter. Renaissance Technologies LLC now owns 333,300 shares of the energy company’s stock worth $5,419,000 after buying an additional 119,359 shares during the period. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Brett G. Taylor sold 22,326 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $15.59, for a total value of $348,062.34. Following the transaction, the director now directly owns 380,210 shares of the company’s stock, valued at $5,927,473.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Brett G. Taylor sold 22,326 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $15.59, for a total value of $348,062.34. Following the transaction, the director now directly owns 380,210 shares of the company’s stock, valued at $5,927,473.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brett G. Taylor sold 27,163 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total value of $421,298.13. Following the completion of the transaction, the director now directly owns 299,030 shares in the company, valued at $4,637,955.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,672 shares of company stock valued at $1,571,185. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Trading Down 1.5 %

Shares of NYSE:KRP opened at $16.04 on Friday. The business’s 50-day moving average is $15.55 and its 200 day moving average is $15.49. Kimbell Royalty Partners, LP has a 1 year low of $14.02 and a 1 year high of $17.11. The firm has a market capitalization of $1.52 billion, a P/E ratio of 17.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 7.95 and a quick ratio of 7.95.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Wednesday, February 21st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.13). Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. The business had revenue of $99.20 million for the quarter, compared to analyst estimates of $83.89 million. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 44.4% on a year-over-year basis. On average, research analysts predict that Kimbell Royalty Partners, LP will post 0.79 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 13th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 10.72%. The ex-dividend date was Tuesday, March 12th. Kimbell Royalty Partners’s dividend payout ratio is currently 186.96%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KRP. TD Securities lowered their target price on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Truist Financial reduced their price target on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Raymond James reduced their price target on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, KeyCorp reduced their price target on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, January 11th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $20.86.

Kimbell Royalty Partners Company Profile