Truist Financial Corp grew its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP – Free Report) by 11.1% during the 4th quarter, HoldingsChannel reports. The firm owned 20,532 shares of the energy company’s stock after buying an additional 2,056 shares during the period. Truist Financial Corp’s holdings in Kimbell Royalty Partners were worth $309,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. increased its holdings in shares of Kimbell Royalty Partners by 2.0% in the third quarter. Epoch Investment Partners Inc. now owns 1,859,664 shares of the energy company’s stock valued at $29,755,000 after purchasing an additional 36,830 shares during the last quarter. American Century Companies Inc. grew its holdings in Kimbell Royalty Partners by 14.5% in the 3rd quarter. American Century Companies Inc. now owns 743,562 shares of the energy company’s stock valued at $11,897,000 after buying an additional 94,340 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Kimbell Royalty Partners by 6.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 521,720 shares of the energy company’s stock worth $7,852,000 after acquiring an additional 31,106 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Kimbell Royalty Partners by 6.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 474,669 shares of the energy company’s stock worth $7,144,000 after acquiring an additional 30,630 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Kimbell Royalty Partners by 46.7% during the 3rd quarter. Stifel Financial Corp now owns 229,258 shares of the energy company’s stock worth $3,668,000 after acquiring an additional 73,029 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.
Insider Transactions at Kimbell Royalty Partners
In related news, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the sale, the insider now directly owns 55,164 shares of the company’s stock, valued at $860,558.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total transaction of $101,197.20. Following the completion of the sale, the insider now owns 55,164 shares in the company, valued at approximately $860,558.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brett G. Taylor sold 22,326 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $15.59, for a total transaction of $348,062.34. Following the transaction, the director now directly owns 380,210 shares in the company, valued at $5,927,473.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,672 shares of company stock valued at $2,397,185. 5.60% of the stock is currently owned by corporate insiders.
Kimbell Royalty Partners Trading Up 1.9 %
Shares of KRP stock opened at $16.91 on Tuesday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 28.18 and a beta of 1.07. Kimbell Royalty Partners, LP has a fifty-two week low of $14.02 and a fifty-two week high of $17.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.48 and a current ratio of 8.48. The company has a 50 day moving average price of $15.93 and a 200 day moving average price of $15.49.
Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.74%. The company had revenue of $87.50 million during the quarter, compared to analyst estimates of $79.42 million. During the same period in the prior year, the business earned $0.36 EPS. Kimbell Royalty Partners’s revenue for the quarter was up 52.4% on a year-over-year basis. Equities research analysts predict that Kimbell Royalty Partners, LP will post 0.92 EPS for the current fiscal year.
Kimbell Royalty Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.59%. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s payout ratio is presently 326.67%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on KRP. TD Securities cut their price objective on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. KeyCorp increased their price target on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Truist Financial reduced their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Raymond James decreased their target price on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of “Buy” and an average target price of $21.00.
Get Our Latest Stock Report on KRP
About Kimbell Royalty Partners
See Also
Want to see what other hedge funds are holding KRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kimbell Royalty Partners, LP (NYSE:KRP – Free Report).
Receive News & Ratings for Kimbell Royalty Partners Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Kimbell Royalty Partners and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
