Kimbell Royalty Partners (NYSE:KRP) Reaches New 1-Year Low – Here’s What Happened

Kimbell Royalty Partners, LP (NYSE:KRP) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.98 and last traded at $12.47, with a volume of 1056174 shares traded. The stock had previously closed at $11.58.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KRP shares. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Bank of America decreased their price objective on shares of 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, Mizuho initiated coverage on shares of Kimbell Royalty Partners in a research report on Monday, March 31st. They issued a “neutral” rating and a $16.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.80.

Kimbell Royalty Partners Trading Up 7.7 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 4.25 and a beta of 0.65. The business’s 50-day simple moving average is $14.38 and its 200-day simple moving average is $15.43.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.83%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is -1,454.55%.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 7,851 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several large investors have recently made changes to their positions in KRP. American Century Companies Inc. boosted its stake in shares of Kimbell Royalty Partners by 15.4% in the fourth quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after purchasing an additional 294,789 shares during the period. Raymond James Financial Inc. bought a new position in Kimbell Royalty Partners during the 4th quarter valued at $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Kimbell Royalty Partners by 14.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock valued at $10,511,000 after acquiring an additional 82,499 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Kimbell Royalty Partners by 0.5% during the 4th quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock valued at $7,192,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Orvieto Partners L.P. bought a new position in Kimbell Royalty Partners during the 4th quarter valued at $6,103,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile