K.J. Harrison & Partners Inc Sells 16,000 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Posted by Sarita Garza on Apr 27th, 2024

K.J. Harrison & Partners Inc trimmed its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP – Free Report) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,000 shares of the energy company’s stock after selling 16,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Kimbell Royalty Partners were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Epoch Investment Partners Inc. grew its stake in shares of Kimbell Royalty Partners by 2.0% during the third quarter. Epoch Investment Partners Inc. now owns 1,859,664 shares of the energy company’s stock valued at $29,755,000 after purchasing an additional 36,830 shares during the last quarter. Raymond James & Associates lifted its holdings in Kimbell Royalty Partners by 4.4% in the third quarter. Raymond James & Associates now owns 1,033,032 shares of the energy company’s stock valued at $16,529,000 after buying an additional 43,935 shares during the period. American Century Companies Inc. lifted its holdings in Kimbell Royalty Partners by 14.5% in the third quarter. American Century Companies Inc. now owns 743,562 shares of the energy company’s stock valued at $11,897,000 after buying an additional 94,340 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Kimbell Royalty Partners by 6.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 521,720 shares of the energy company’s stock valued at $7,852,000 after buying an additional 31,106 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Kimbell Royalty Partners by 6.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 474,669 shares of the energy company’s stock valued at $7,144,000 after buying an additional 30,630 shares during the period. 25.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Brett G. Taylor sold 5,480 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $15.55, for a total value of $85,214.00. Following the completion of the transaction, the director now owns 343,082 shares of the company’s stock, valued at $5,334,925.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Blayne Rhynsburger sold 6,487 shares of the firm’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 transaction, the insider now owns 55,164 shares of the company’s stock, valued at $860,558.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brett G. Taylor sold 5,480 shares of Kimbell Royalty Partners stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $15.55, for a total transaction of $85,214.00. Following the completion of the transaction, the director now directly owns 343,082 shares of the company’s stock, valued at approximately $5,334,925.10. 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 ninety days. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Raymond James cut their price objective on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. KeyCorp increased their target price on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Truist Financial cut their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, TD Securities cut their target price on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $21.00.

View Our Latest Research Report on KRP

Kimbell Royalty Partners Stock Up 0.6 %

Shares of NYSE:KRP traded up $0.09 during midday trading on Friday, reaching $16.13. 210,741 shares of the company were exchanged, compared to its average volume of 247,241. Kimbell Royalty Partners, LP has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. 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 stock has a fifty day simple moving average of $15.71 and a two-hundred day simple moving average of $15.50. The firm has a market cap of $1.53 billion, a PE ratio of 17.52 and a beta of 1.08.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.13). Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The company had revenue of $99.20 million for the quarter, compared to analyst estimates of $83.89 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up 44.4% on a year-over-year basis. As a group, sell-side analysts forecast that Kimbell Royalty Partners, LP will post 0.91 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 13th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 10.66%. Kimbell Royalty Partners’s payout ratio is 186.96%.