Carson Advisory Inc. Buys 3,059 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Carson Advisory Inc. grew its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,850 shares of the energy company’s stock after acquiring an additional 3,059 shares during the period. Carson Advisory Inc. owned 0.05% of Kimbell Royalty Partners worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of KRP. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $195,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kimbell Royalty Partners by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock worth $197,000 after buying an additional 1,379 shares during the period. Olympiad Research LP acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $227,000. Apollon Wealth Management LLC grew its position in shares of Kimbell Royalty Partners by 21.2% during the 4th quarter. Apollon Wealth Management LLC now owns 16,596 shares of the energy company’s stock worth $250,000 after buying an additional 2,903 shares during the period. Finally, CoreCommodity Management LLC acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $266,000. 25.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KRP. Truist Financial lowered their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Bank of America restated an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a report on Friday, June 14th. Finally, KeyCorp boosted their price objective on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Insider Transactions at Kimbell Royalty Partners

In other news, Director Brett G. Taylor sold 50,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $16.52, for a total value of $826,000.00. Following the completion of the transaction, the director now owns 249,030 shares of the company’s stock, valued at $4,113,975.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Stock Performance

Shares of NYSE:KRP traded up $0.09 on Wednesday, hitting $16.87. The company had a trading volume of 321,935 shares, compared to its average volume of 350,264. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $16.47 and a 200 day moving average price of $15.78. Kimbell Royalty Partners, LP has a 1-year low of $14.02 and a 1-year high of $17.11. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.89 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate 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 business had revenue of $87.50 million during the quarter, compared to analyst estimates of $79.42 million. During the same quarter last year, the company posted $0.36 earnings per share. The company’s revenue was up 52.4% on a year-over-year basis. Analysts expect that Kimbell Royalty Partners, LP will post 0.79 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.49 dividend. 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 11.62%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s dividend payout ratio is 326.67%.

Kimbell Royalty Partners Company Profile