GraniteShares Advisors LLC Buys 9,800 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

GraniteShares Advisors LLC increased its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 6.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,726 shares of the energy company’s stock after acquiring an additional 9,800 shares during the period. GraniteShares Advisors LLC’s holdings in Kimbell Royalty Partners were worth $2,264,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust bought a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Lowe Wealth Advisors LLC bought a new stake in Kimbell Royalty Partners in the first quarter valued at approximately $34,000. GAMMA Investing LLC bought a new stake in Kimbell Royalty Partners in the first quarter valued at approximately $34,000. Finally, Jones Financial Companies Lllp raised its stake in Kimbell Royalty Partners by 293.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after buying an additional 2,028 shares during the period. Institutional investors own 25.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KRP. Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. KeyCorp dropped their price objective on Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Mizuho began coverage on Kimbell Royalty Partners in a research note on Monday, March 31st. They issued a “neutral” rating and a $16.00 price objective on the stock. Bank of America dropped their price objective 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. Finally, Wall Street Zen upgraded Kimbell Royalty Partners from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty Partners has a consensus rating of “Hold” and a consensus price target 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 sale, the insider now owns 47,263 shares of the company’s stock, valued at $627,180.01. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.

Kimbell Royalty Partners Price Performance

Shares of NYSE KRP opened at $14.10 on Friday. The firm has a market cap of $1.51 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 4.25 and a beta of 0.51. 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 1-year low of $10.98 and a 1-year high of $17.07. The business’s 50 day moving average is $12.78 and its 200-day moving average is $14.39.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, May 8th. The energy company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $84.21 million for the quarter, compared to analyst estimates of $84.05 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share. Equities research analysts predict that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 13.33%. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.40. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 3,760.00%.

Kimbell Royalty Partners Company Profile