JPMorgan Chase & Co. Buys 17,029 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

JPMorgan Chase & Co. grew its stake in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 65.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,054 shares of the energy company's stock after buying an additional 17,029 shares during the period. JPMorgan Chase & Co.'s holdings in Kimbell Royalty Partners were worth $693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in KRP. EverSource Wealth Advisors LLC bought a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company's stock valued at $49,000 after acquiring an additional 1,484 shares in the last quarter. Godsey & Gibb Inc. lifted its position in Kimbell Royalty Partners by 62.9% in the third quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company's stock worth $66,000 after purchasing an additional 1,580 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Kimbell Royalty Partners during the 3rd quarter worth about $79,000. Finally, Nadler Financial Group Inc. acquired a new stake in shares of Kimbell Royalty Partners during the 3rd quarter valued at about $165,000. Institutional investors and hedge funds own 25.78% of the company's stock.

Insider Buying and Selling at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total value of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares in the company, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company's stock.

Kimbell Royalty Partners Stock Down 2.2 %

KRP traded down $0.35 during trading on Monday, reaching $15.53. The company had a trading volume of 1,029,831 shares, compared to its average volume of 1,173,452. The company has a market cap of $1.48 billion, a P/E ratio of 30.44, a PEG ratio of 8.13 and a beta of 1.10. Kimbell Royalty Partners, LP has a 12 month low of $14.57 and a 12 month high of $17.07. The business's fifty day moving average price is $15.88 and its 200 day moving average price is $16.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. During the same period in the previous year, the business earned $0.19 EPS. The company's revenue was up 24.7% compared to the same quarter last year. Equities analysts anticipate that Kimbell Royalty Partners, LP will post 0.65 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.41 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.56%. Kimbell Royalty Partners's dividend payout ratio is 321.57%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. KeyCorp dropped their price objective on 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. Raymond James lifted their price target on shares of Kimbell Royalty Partners from $19.00 to $23.00 and gave the company a "strong-buy" rating in a report on Thursday. Finally, Truist Financial upped their price objective on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kimbell Royalty Partners has a consensus rating of "Moderate Buy" and a consensus target price of $21.20.

About Kimbell Royalty Partners