Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Update

Kimbell Royalty Partners, LP (NYSE:KRP) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 1,790,000 shares, a growth of 11.2% from the July 31st total of 1,610,000 shares. Based on an average trading volume of 375,100 shares, the days-to-cover ratio is currently 4.8 days.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new stake in Kimbell Royalty Partners in the 2nd quarter worth about $25,000. Summit Securities Group LLC bought a new stake in Kimbell Royalty Partners in the 2nd quarter worth about $43,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kimbell Royalty Partners by 98.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after purchasing an additional 1,484 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $99,000. Finally, Bridgewealth Advisory Group LLC bought a new stake in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $165,000. 25.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial raised their price objective on Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America reissued an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kimbell Royalty Partners currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kimbell Royalty Partners Stock Up 0.3 %

Shares of NYSE:KRP traded up $0.04 on Monday, hitting $15.98. 501,400 shares of the company traded hands, compared to its average volume of 364,306. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.11. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $16.32 and a 200-day simple moving average of $16.11. The company has a market cap of $1.53 billion, a PE ratio of 26.63, a PEG ratio of 1.36 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. Kimbell Royalty Partners’s revenue was up 26.0% compared to the same quarter last year. As a group, research analysts expect that Kimbell Royalty Partners will post 0.99 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a $0.42 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.68 annualized dividend and a yield of 10.51%. Kimbell Royalty Partners’s payout ratio is 280.00%.

About Kimbell Royalty Partners