Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 36.5% in March

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,340,000 shares, a growth of 36.5% from the February 28th total of 982,000 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 972,100 shares, the short-interest ratio is presently 1.4 days.

Analysts Set New Price Targets

KRP has been the subject of several recent analyst reports. Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $16.00 in a research report on Tuesday, March 4th. Royal Bank of Canada upgraded Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. Bank of America cut their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Mizuho began coverage on shares of Kimbell Royalty Partners in a report on Monday. They issued a “neutral” rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.80.

Kimbell Royalty Partners Stock Down 0.2 %

Kimbell Royalty Partners stock traded down $0.03 during trading on Monday, reaching $14.04. The stock had a trading volume of 186,761 shares, compared to its average volume of 549,183. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 52-week low of $13.24 and a 52-week high of $17.07. The stock has a market cap of $1.50 billion, a PE ratio of 27.47, a P/E/G ratio of 4.25 and a beta of 1.01. The business has a 50 day moving average price of $14.96 and a 200 day moving average price of $15.63.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 11.40%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently -1,454.55%.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the sale, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. This represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Accordant Advisory Group Inc increased its holdings in shares of Kimbell Royalty Partners by 10.3% in the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after acquiring an additional 19,716 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Kimbell Royalty Partners by 38.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock valued at $4,334,000 after purchasing an additional 74,098 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Kimbell Royalty Partners by 65.4% during the third 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 raised its holdings in Kimbell Royalty Partners by 1,175.1% during the third 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kimbell Royalty Partners by 11.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock worth $1,627,000 after buying an additional 10,176 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile