Hilltop National Bank Buys New Shares in Kimbell Royalty Partners, LP (NYSE:KRP)

Hilltop National Bank purchased a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,000 shares of the energy company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRP. Bank of New York Mellon Corp bought a new position in Kimbell Royalty Partners during the second quarter worth about $199,000. National Bank of Canada FI lifted its stake in Kimbell Royalty Partners by 5.5% during the second quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock worth $217,000 after purchasing an additional 685 shares during the period. American Century Companies Inc. lifted its stake in Kimbell Royalty Partners by 20.9% during the second quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after purchasing an additional 260,332 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Kimbell Royalty Partners by 102.9% during the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock worth $1,429,000 after purchasing an additional 44,320 shares during the period. Finally, Argent Trust Co bought a new position in Kimbell Royalty Partners during the second quarter worth about $176,000. Institutional investors own 25.78% of the company’s stock.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total value of $82,050.00. Following the completion of the sale, the insider now owns 45,164 shares of the company’s stock, valued at $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on KRP. Truist Financial dropped their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. KeyCorp dropped their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $15.56 on Friday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.95 and a beta of 1.10. The company has a 50 day moving average of $15.98 and a 200-day moving average of $16.08. 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 $14.26 and a 1-year high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $83.79 million during the quarter, compared to analyst estimates of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities analysts forecast that Kimbell Royalty Partners, LP will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s dividend payout ratio is currently 321.57%.

Kimbell Royalty Partners Profile