Kimbell Royalty Partners (NYSE:KRP) Sees Unusually-High Trading Volume – Here’s Why

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) saw an uptick in trading volume on Wednesday . 1,384,715 shares changed hands during mid-day trading, an increase of 112% from the previous session’s volume of 651,652 shares.The stock last traded at $15.29 and had previously closed at $16.27.

Analyst Ratings Changes

KRP has been the topic of several recent analyst reports. Truist Financial cut their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, September 30th. KeyCorp cut their price target on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.40.

Kimbell Royalty Partners Stock Down 5.0 %

The firm has a 50-day moving average price of $16.01 and a two-hundred day moving average price of $16.09. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

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, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $83.79 million during the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 annualized dividend and a dividend yield of 10.61%. Kimbell Royalty Partners’s dividend payout ratio is currently 321.57%.

Insider Transactions at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several hedge funds have recently bought and sold shares of KRP. EverSource Wealth Advisors LLC bought a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 last quarter. Godsey & Gibb Inc. increased its position in Kimbell Royalty Partners by 62.9% during the 3rd quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock worth $66,000 after purchasing an additional 1,580 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Kimbell Royalty Partners in the 3rd quarter valued at approximately $79,000. Finally, Bridgewealth Advisory Group LLC acquired a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $165,000. 25.78% of the stock is owned by institutional investors.

About Kimbell Royalty Partners