Kimbell Royalty Partners, LP (NYSE:KRP) Sees Large Growth in Short Interest

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,200,000 shares, a growth of 7.3% from the September 30th total of 2,050,000 shares. Based on an average trading volume of 394,600 shares, the days-to-cover ratio is presently 5.6 days.

Kimbell Royalty Partners Stock Performance

KRP stock traded up $0.02 during midday trading on Thursday, hitting $16.06. 237,103 shares of the company traded hands, compared to its average volume of 364,342. Kimbell Royalty Partners has a twelve month low of $14.26 and a twelve month high of $17.11. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13. 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 business has a 50 day simple moving average of $15.91 and a 200-day simple moving average of $16.19.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The firm had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, equities research analysts predict that Kimbell Royalty Partners will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on KRP. Truist Financial reduced their target price on shares of 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 reduced their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Kimbell Royalty Partners in the second quarter worth $1,227,000. Mirae Asset Global Investments Co. Ltd. grew its position in Kimbell Royalty Partners by 189.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock worth $19,882,000 after purchasing an additional 899,322 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth about $1,032,000. Oppenheimer & Co. Inc. raised its position in shares of Kimbell Royalty Partners by 102.9% during the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock valued at $1,429,000 after buying an additional 44,320 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its position in shares of Kimbell Royalty Partners by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 196,794 shares of the energy company’s stock valued at $3,220,000 after buying an additional 39,150 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Company Profile