Kimbell Royalty Partners, LP (NYSE:KRP) Insider Blayne Rhynsburger Sells 7,851 Shares

Kimbell Royalty Partners, LP (NYSE:KRP) insider Blayne Rhynsburger sold 7,851 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now directly owns 49,263 shares of the company’s stock, valued at $682,785.18. This represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kimbell Royalty Partners Stock Up 0.8 %

Shares of Kimbell Royalty Partners stock opened at $14.11 on Thursday. The company has a 50-day simple moving average of $15.22 and a two-hundred day simple moving average of $15.70. The stock has a market capitalization of $1.51 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners, LP has a 52-week low of $13.24 and a 52-week high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 annualized dividend and a yield of 11.34%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently -1,454.55%.

Institutional Trading of Kimbell Royalty Partners

Institutional investors and hedge funds have recently modified their holdings of the business. AlphaCore Capital LLC boosted its position in shares of Kimbell Royalty Partners by 0.5% during the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock valued at $2,378,000 after buying an additional 675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 worth $1,627,000 after acquiring an additional 10,176 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Kimbell Royalty Partners by 19.5% in the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock worth $512,000 after acquiring an additional 5,190 shares during the period. Verition Fund Management LLC lifted its position in Kimbell Royalty Partners by 34.7% during the third quarter. Verition Fund Management LLC now owns 20,200 shares of the energy company’s stock valued at $325,000 after purchasing an additional 5,200 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Kimbell Royalty Partners by 42.6% in the third quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company’s stock worth $345,000 after purchasing an additional 6,401 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on KRP. Truist Financial lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Bank of America cut their price target 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.

About Kimbell Royalty Partners