Raymond James Financial Inc. Makes New Investment in Kimbell Royalty Partners, LP (NYSE:KRP)

Raymond James Financial Inc. purchased a new stake in Kimbell Royalty Partners, LP (NYSE:KRP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,876,085 shares of the energy company’s stock, valued at approximately $30,449,000. Raymond James Financial Inc. owned 1.96% of Kimbell Royalty Partners as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KRP. U.S. Capital Wealth Advisors LLC lifted its position in shares of Kimbell Royalty Partners by 38.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock worth $4,334,000 after acquiring an additional 74,098 shares in the last quarter. Accordant Advisory Group Inc raised its stake in shares of Kimbell Royalty Partners by 10.3% during the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after purchasing an additional 19,716 shares during the period. JPMorgan Chase & Co. lifted its holdings in Kimbell Royalty Partners by 65.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock worth $693,000 after purchasing an additional 17,029 shares in the last quarter. Barclays PLC lifted its holdings in Kimbell Royalty Partners by 1,175.1% during the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after purchasing an additional 12,538 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Kimbell Royalty Partners by 11.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 107,087 shares of the energy company’s stock worth $1,738,000 after purchasing an additional 10,710 shares during the period. 25.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Kimbell Royalty Partners Stock Up 2.8 %

Shares of NYSE KRP opened at $14.02 on Friday. The business has a 50-day moving average of $15.35 and a 200-day moving average of $15.74. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 4.25 and a beta of 1.01. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a 12 month low of $13.24 and a 12 month high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.42%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently -1,454.55%.

Kimbell Royalty Partners Company Profile