Zurcher Kantonalbank Zurich Cantonalbank Has $197,000 Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kimbell Royalty Partners, LP (NYSE:KRP) by 11.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,115 shares of the energy company’s stock after purchasing an additional 1,379 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kimbell Royalty Partners were worth $197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Kimbell Royalty Partners by 1,540.0% in the fourth quarter. International Assets Investment Management LLC now owns 91,429 shares of the energy company’s stock valued at $1,376,000 after acquiring an additional 85,854 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Kimbell Royalty Partners by 6.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 474,669 shares of the energy company’s stock worth $7,144,000 after purchasing an additional 30,630 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Kimbell Royalty Partners by 6.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 521,720 shares of the energy company’s stock valued at $7,852,000 after purchasing an additional 31,106 shares during the period. HB Wealth Management LLC increased its stake in Kimbell Royalty Partners by 17.6% during the 4th quarter. HB Wealth Management LLC now owns 20,000 shares of the energy company’s stock valued at $301,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $376,000. 25.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, Director Brett G. Taylor sold 16,889 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $15.71, for a total transaction of $265,326.19. Following the completion of the sale, the director now owns 326,193 shares in the company, valued at approximately $5,124,492.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 16,889 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.71, for a total transaction of $265,326.19. Following the completion of the transaction, the director now directly owns 326,193 shares of the company’s stock, valued at $5,124,492.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now owns 55,164 shares in the company, valued at $860,558.40. The disclosure for this sale can be found here. Insiders have sold a total of 100,672 shares of company stock worth $1,571,185 over the last three months. 5.60% of the stock is currently owned by insiders.

Kimbell Royalty Partners Stock Performance

KRP stock opened at $16.54 on Wednesday. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.57 billion, a PE ratio of 27.57 and a beta of 1.07. The business has a 50 day moving average of $15.80 and a 200-day moving average of $15.48. Kimbell Royalty Partners, LP has a 12-month low of $14.02 and a 12-month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.15). The business had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.68%. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts expect that Kimbell Royalty Partners, LP will post 0.91 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.49 dividend. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.96 annualized dividend and a yield of 11.85%. Kimbell Royalty Partners’s payout ratio is currently 286.67%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KRP. Truist Financial reduced their price objective on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 5th. KeyCorp lifted their price target on Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Raymond James lowered their price objective on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, TD Securities cut their target price on 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. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kimbell Royalty Partners has a consensus rating of “Buy” and an average price target of $21.00.

Kimbell Royalty Partners Profile