Vestcor Inc Cuts Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Vestcor Inc cut its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 224,353 shares of the energy company’s stock after selling 5,703 shares during the quarter. Vestcor Inc’s holdings in Kimbell Royalty Partners were worth $3,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KRP. Accordant Advisory Group Inc grew its stake in Kimbell Royalty Partners by 10.3% during the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after purchasing an additional 19,716 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Kimbell Royalty Partners by 38.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock valued at $4,334,000 after acquiring an additional 74,098 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kimbell Royalty Partners by 65.4% during the third quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock valued at $693,000 after acquiring an additional 17,029 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Kimbell Royalty Partners by 11.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after purchasing an additional 10,176 shares in the last quarter. Finally, Barclays PLC grew its position in Kimbell Royalty Partners by 1,175.1% in the third quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after acquiring an additional 12,538 shares during the period. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on KRP. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price target for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. 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 report on Tuesday, March 4th. Finally, Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd.

Kimbell Royalty Partners Price Performance

Shares of KRP opened at $13.67 on Friday. The stock’s 50 day moving average is $15.40 and its two-hundred day moving average is $15.75. Kimbell Royalty Partners, LP has a twelve month low of $13.24 and a twelve month high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.46 billion, a PE ratio of 26.80, a P/E/G ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.60 annualized dividend and a yield of 11.71%. Kimbell Royalty Partners’s payout ratio is currently -1,454.55%.

Kimbell Royalty Partners Company Profile