California State Teachers Retirement System Has $962,000 Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

California State Teachers Retirement System increased its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,276 shares of the energy company’s stock after buying an additional 7,144 shares during the period. California State Teachers Retirement System owned 0.06% of Kimbell Royalty Partners worth $962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in Kimbell Royalty Partners during the 4th quarter worth about $32,000. Parkside Financial Bank & Trust acquired a new position in Kimbell Royalty Partners during the 4th quarter worth about $32,000. Jones Financial Companies Lllp lifted its position in Kimbell Royalty Partners by 293.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after purchasing an additional 2,028 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Kimbell Royalty Partners during the 4th quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC lifted its position in Kimbell Royalty Partners by 166.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,000 shares of the energy company’s stock valued at $65,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

KRP has been the topic of a number of research reports. Wall Street Zen upgraded shares of Kimbell Royalty Partners from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Mizuho initiated coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They set a “neutral” rating and a $16.00 target price on the stock. Truist Financial downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Bank of America cut their target price on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.40.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $13.27, for a total transaction of $26,540.00. Following the completion of the sale, the insider now directly owns 47,263 shares of the company’s stock, valued at approximately $627,180.01. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by company insiders.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $13.71 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The stock has a market cap of $1.47 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 4.25 and a beta of 0.51. The stock has a 50-day moving average of $12.71 and a 200-day moving average of $14.41. Kimbell Royalty Partners, LP has a one year low of $10.98 and a one year high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, May 8th. The energy company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The company had revenue of $84.21 million during the quarter, compared to analysts’ expectations of $84.05 million. During the same period in the prior year, the business posted $0.04 EPS. Kimbell Royalty Partners’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Tuesday, May 20th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 13.72%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, May 20th. Kimbell Royalty Partners’s dividend payout ratio is presently 3,760.00%.

Kimbell Royalty Partners Profile