Accordant Advisory Group Inc Raises Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Accordant Advisory Group Inc boosted its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,706 shares of the energy company’s stock after acquiring an additional 12,199 shares during the period. Kimbell Royalty Partners accounts for 2.5% of Accordant Advisory Group Inc’s holdings, making the stock its 11th biggest position. Accordant Advisory Group Inc’s holdings in Kimbell Royalty Partners were worth $3,085,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Ridgemont Partners Management LLC acquired a new position in shares of Kimbell Royalty Partners during the second quarter valued at about $96,372,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Kimbell Royalty Partners by 189.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after purchasing an additional 899,322 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Kimbell Royalty Partners by 20.9% in the second quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after buying an additional 260,332 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Kimbell Royalty Partners during the second quarter worth $1,227,000. Finally, Raymond James & Associates grew its holdings in shares of Kimbell Royalty Partners by 6.1% during the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock valued at $17,998,000 after buying an additional 64,678 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial reduced their target price on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, September 30th. KeyCorp decreased their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Kimbell Royalty Partners Stock Up 0.2 %

Kimbell Royalty Partners stock opened at $16.18 on Wednesday. The business’s 50-day moving average price is $15.89 and its 200 day moving average price is $16.20. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. Kimbell Royalty Partners, LP has a 52 week low of $14.26 and a 52 week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The firm had revenue of $76.60 million for the quarter, compared to analyst estimates of $81.19 million. During the same period in the previous year, the business earned $0.23 EPS. Kimbell Royalty Partners’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kimbell Royalty Partners, LP will post 0.83 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 dividend on an annualized basis and a yield of 10.38%. Kimbell Royalty Partners’s payout ratio is 280.00%.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the sale, the insider now directly owns 50,164 shares in the company, valued at $788,076.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.60% of the company’s stock.

About Kimbell Royalty Partners