Orvieto Partners L.P. Takes $6.10 Million Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Orvieto Partners L.P. acquired a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 376,019 shares of the energy company's stock, valued at approximately $6,103,000. Kimbell Royalty Partners makes up approximately 5.1% of Orvieto Partners L.P.'s investment portfolio, making the stock its 5th largest holding. Orvieto Partners L.P. owned 0.39% of Kimbell Royalty Partners at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Kimbell Royalty Partners by 18.2% during the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company's stock valued at $4,619,000 after acquiring an additional 43,852 shares in the last quarter. Accordant Advisory Group Inc grew its holdings in shares of Kimbell Royalty Partners by 10.3% during 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 in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Kimbell Royalty Partners by 38.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company's stock valued at $4,334,000 after acquiring an additional 74,098 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Kimbell Royalty Partners by 65.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company's stock valued at $693,000 after acquiring an additional 17,029 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Kimbell Royalty Partners by 1,175.1% during the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company's stock valued at $219,000 after acquiring an additional 12,538 shares in the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the transaction, the insider now owns 49,263 shares of the company's stock, valued at $682,785.18. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KRP shares. KeyCorp decreased their price objective on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho initiated coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They set a "neutral" rating and a $16.00 price objective on the stock. Truist Financial lowered Kimbell Royalty Partners from a "buy" rating to a "hold" rating and lowered their price objective for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Raymond James reissued a "market perform" rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Bank of America lowered their price objective on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a report on Tuesday, March 4th. One 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.40.

Kimbell Royalty Partners Stock Performance

KRP traded up $0.29 during midday trading on Monday, reaching $12.63. The company's stock had a trading volume of 320,622 shares, compared to its average volume of 591,051. The stock has a market cap of $1.35 billion, a P/E ratio of 24.77, a PEG ratio of 4.25 and a beta of 0.65. The company has a fifty day simple moving average of $13.59 and a 200 day simple moving average of $15.10. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a twelve month low of $10.98 and a twelve month high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 12.67%. Kimbell Royalty Partners's dividend payout ratio (DPR) is presently -1,454.55%.

Kimbell Royalty Partners Profile