Turtle Creek Wealth Advisors LLC Makes New Investment in Kimbell Royalty Partners, LP (NYSE:KRP)

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) in the second quarter, Holdings Channel reports. The firm acquired 10,975 shares of the energy company’s stock, valued at approximately $180,000.

Several other hedge funds have also recently modified their holdings of KRP. Summit Securities Group LLC purchased a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at $43,000. International Assets Investment Management LLC acquired a new stake in shares of Kimbell Royalty Partners in the second quarter valued at $99,000. Accel Wealth Management acquired a new stake in Kimbell Royalty Partners in the second quarter valued at $196,000. Bank of New York Mellon Corp purchased a new position in shares of Kimbell Royalty Partners during the second quarter worth about $199,000. Finally, Steward Partners Investment Solutions LLC acquired a new stake in Kimbell Royalty Partners in the fourth quarter valued at about $195,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Trading Up 0.3 %

Kimbell Royalty Partners stock traded up $0.04 during mid-day trading on Friday, hitting $15.98. 501,499 shares of the stock were exchanged, compared to its average volume of 430,752. The firm’s fifty day simple moving average is $16.32 and its two-hundred day simple moving average is $16.11. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.36 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. Kimbell Royalty Partners, LP has a 12 month low of $14.26 and a 12 month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. Kimbell Royalty Partners’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. Analysts forecast that Kimbell Royalty Partners, LP will post 0.99 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.51%. Kimbell Royalty Partners’s payout ratio is presently 280.00%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KRP. Truist Financial boosted their price objective on shares of Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America restated an “underperform” rating and issued a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is owned by corporate insiders.

About Kimbell Royalty Partners