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 firm’s stock in a transaction dated 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 owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kimbell Royalty Partners Trading Up 0.8 %

Shares of KRP stock opened at $14.11 on Thursday. The business has a 50-day moving average of $15.22 and a 200 day moving average of $15.70. 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, LP has a 1-year low of $13.24 and a 1-year high of $17.07. The stock has a market capitalization of $1.51 billion, a PE ratio of 27.66, a P/E/G ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.34%. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Analysts Set New Price Targets

KRP has been the topic of a number of research analyst reports. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Bank of America dropped their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Finally, Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of large investors have recently added to or reduced their stakes in the company. AlphaCore Capital LLC boosted its holdings 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 worth $2,378,000 after purchasing an additional 675 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in Kimbell Royalty Partners by 30.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company’s stock worth $70,000 after buying an additional 1,000 shares during the period. Virtus ETF Advisers LLC grew its position in shares of Kimbell Royalty Partners by 10.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,053 shares of the energy company’s stock worth $179,000 after buying an additional 1,035 shares during the last quarter. Wedbush Securities Inc. increased its stake in shares of Kimbell Royalty Partners by 3.4% during the fourth quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company’s stock valued at $632,000 after buying an additional 1,298 shares during the period. Finally, Vident Advisory LLC raised its holdings in shares of Kimbell Royalty Partners by 6.0% during the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company’s stock valued at $500,000 after acquiring an additional 1,747 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners