Wells Fargo & Company MN Increases Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Wells Fargo & Company MN increased its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 141.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 255,721 shares of the energy company’s stock after purchasing an additional 149,960 shares during the quarter. Wells Fargo & Company MN owned approximately 0.27% of Kimbell Royalty Partners worth $4,150,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Kimbell Royalty Partners in the fourth quarter valued at approximately $30,449,000. American Century Companies Inc. increased its position in shares of Kimbell Royalty Partners by 15.4% during the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after purchasing an additional 294,789 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Kimbell Royalty Partners during the 4th quarter valued at $1,948,000. U.S. Capital Wealth Advisors LLC boosted its holdings 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 buying an additional 74,098 shares during the last quarter. Finally, LPL Financial LLC grew its position in Kimbell Royalty Partners by 18.2% during the fourth quarter. LPL Financial LLC now owns 284,626 shares of the energy company’s stock valued at $4,619,000 after buying an additional 43,852 shares during the period. 25.78% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the transaction, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.

Kimbell Royalty Partners Stock Performance

NYSE:KRP opened at $12.15 on Tuesday. The business’s fifty day moving average is $13.85 and its 200 day moving average is $15.21. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 4.25 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. Kimbell Royalty Partners, LP has a 52-week low of $10.98 and a 52-week high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.17%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KRP shares. KeyCorp dropped their target price on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. Bank of America decreased their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their price target for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Finally, Mizuho started coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They issued a “neutral” rating and a $16.00 price objective for the company. One equities 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 company’s stock. According to data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of “Hold” and a consensus price target of $17.40.

About Kimbell Royalty Partners