Insider Selling: Kimbell Royalty Partners, LP (NYSE:KRP) Insider Sells 7,851 Shares of Stock

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) insider Blayne Rhynsburger sold 7,851 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the transaction, the insider now directly owns 49,263 shares of the company's stock, valued at $682,785.18. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Kimbell Royalty Partners Stock Down 1.0 %

Shares of NYSE KRP traded down $0.14 during trading hours on Friday, hitting $14.05. The company had a trading volume of 607,398 shares, compared to its average volume of 527,910. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. 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, LP has a 1-year low of $13.24 and a 1-year high of $17.07. The firm's 50 day moving average is $15.13 and its 200-day moving average is $15.67.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.39%. The ex-dividend date of this dividend is Tuesday, March 18th. Kimbell Royalty Partners's payout ratio is presently -1,454.55%.

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Institutional Investors Weigh In On Kimbell Royalty Partners

Several hedge funds have recently added to or reduced their stakes in KRP. AlphaCore Capital LLC lifted its holdings in Kimbell Royalty Partners by 0.5% during the 3rd quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company's stock valued at $2,378,000 after purchasing an additional 675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $1,627,000 after purchasing an additional 10,176 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Kimbell Royalty Partners by 19.5% during the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company's stock worth $512,000 after buying an additional 5,190 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Kimbell Royalty Partners by 34.7% during the third quarter. Verition Fund Management LLC now owns 20,200 shares of the energy company's stock worth $325,000 after buying an additional 5,200 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Kimbell Royalty Partners by 42.6% during the third quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company's stock worth $345,000 after buying an additional 6,401 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company's stock.

Analysts Set New Price Targets

KRP has been the subject of several research reports. Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and decreased their price target for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Raymond James reaffirmed a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Finally, Bank of America cut their price objective on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.25.

About Kimbell Royalty Partners