KLP Kapitalforvaltning AS Buys Shares of 14,100 Kimbell Royalty Partners, LP (NYSE:KRP)

KLP Kapitalforvaltning AS purchased a new position in Kimbell Royalty Partners, LP (NYSE:KRP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,100 shares of the energy company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KRP. Raymond James Financial Inc. purchased a new stake in Kimbell Royalty Partners during the fourth quarter worth $30,449,000. American Century Companies Inc. raised its position in shares of Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock worth $35,842,000 after acquiring an additional 294,789 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Kimbell Royalty Partners by 38.4% in 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 in the last quarter. Accordant Advisory Group Inc lifted its stake in shares of Kimbell Royalty Partners by 10.3% during the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock worth $3,431,000 after purchasing an additional 19,716 shares during the last quarter. Finally, Swiss National Bank boosted its position in Kimbell Royalty Partners by 16.0% during the fourth quarter. Swiss National Bank now owns 135,300 shares of the energy company’s stock valued at $2,196,000 after purchasing an additional 18,700 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KRP has been the subject of several analyst reports. 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 price target for the company. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Truist Financial lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Finally, Bank of America dropped their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kimbell Royalty Partners has a consensus rating of “Hold” and an average price target of $17.80.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the sale, the insider now directly owns 49,263 shares in the company, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Trading Down 2.6 %

NYSE KRP opened at $12.04 on Tuesday. The stock has a market cap of $1.29 billion, a P/E ratio of 23.60, a P/E/G ratio of 4.25 and a beta of 0.65. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a 12-month low of $11.31 and a 12-month high of $17.07. The company has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $15.54.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 13.29%. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Kimbell Royalty Partners Company Profile