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

Kimbell Royalty Partners, LP (NYSE:KRP) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,340,000 shares, a growth of 5.5% from the March 15th total of 1,270,000 shares. Based on an average daily trading volume, of 358,100 shares, the days-to-cover ratio is presently 3.7 days.

Kimbell Royalty Partners Price Performance

Shares of KRP opened at $16.01 on Thursday. The firm has a market capitalization of $1.52 billion, a PE ratio of 17.40 and a beta of 1.08. The company’s 50-day moving average is $15.61 and its 200-day moving average is $15.49. Kimbell Royalty Partners has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. 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 issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.13). The company had revenue of $99.20 million during the quarter, compared to the consensus estimate of $83.89 million. Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. Kimbell Royalty Partners’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. Equities analysts forecast that Kimbell Royalty Partners will post 0.79 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 13th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 10.74%. The ex-dividend date was Tuesday, March 12th. Kimbell Royalty Partners’s payout ratio is presently 186.96%.

Analysts Set New Price Targets

KRP has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. TD Securities dropped their price target on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Raymond James dropped their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, KeyCorp dropped their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 11th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $20.86.

Insider Activity

In other news, Director Brett G. Taylor sold 27,163 shares of the company’s stock in a transaction that occurred on 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 owns 299,030 shares in the company, valued at $4,637,955.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Brett G. Taylor sold 27,163 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total value of $421,298.13. Following the sale, the director now owns 299,030 shares of the company’s stock, valued at $4,637,955.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brett G. Taylor sold 5,480 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $15.55, for a total transaction of $85,214.00. Following the completion of the sale, the director now directly owns 343,082 shares in the company, valued at approximately $5,334,925.10. The disclosure for this sale can be found here. Insiders sold 100,672 shares of company stock worth $1,571,185 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several institutional investors and hedge funds have recently modified their holdings of KRP. T. Rowe Price Investment Management Inc. grew its stake in shares of Kimbell Royalty Partners by 41.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,435,664 shares of the energy company’s stock valued at $40,676,000 after acquiring an additional 709,547 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Kimbell Royalty Partners in the third quarter valued at about $7,105,000. Goldman Sachs Group Inc. grew its stake in shares of Kimbell Royalty Partners by 61.4% in the second quarter. Goldman Sachs Group Inc. now owns 947,292 shares of the energy company’s stock valued at $14,854,000 after acquiring an additional 360,242 shares in the last quarter. First Financial Bankshares Inc acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter valued at about $4,200,000. Finally, Marshall Wace LLP grew its stake in shares of Kimbell Royalty Partners by 302.8% in the fourth quarter. Marshall Wace LLP now owns 363,371 shares of the energy company’s stock valued at $6,068,000 after acquiring an additional 273,159 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners