KDK Private Wealth Management LLC Makes New Investment in Kimbell Royalty Partners, LP (NYSE:KRP)

KDK Private Wealth Management LLC purchased a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,041 shares of the energy company's stock, valued at approximately $390,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new stake in shares of Kimbell Royalty Partners in the 4th quarter worth about $32,000. PNC Financial Services Group Inc. bought a new position in shares of Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp grew its holdings in Kimbell Royalty Partners by 293.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company's stock worth $44,000 after buying an additional 2,028 shares in the last quarter. Hilltop National Bank bought a new position in Kimbell Royalty Partners during the 4th quarter valued at $49,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Kimbell Royalty Partners in the 4th quarter worth $55,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on KRP. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Mizuho initiated coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They issued a "neutral" rating and a $16.00 price target for the company. Bank of America decreased their target price on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a report on Tuesday, March 4th. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a "moderate buy" rating in a research report on Friday, March 14th. Finally, Truist Financial downgraded Kimbell Royalty Partners from a "buy" rating to a "hold" rating and lowered their price target for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.80.

Kimbell Royalty Partners Trading Up 2.7 %

Shares of KRP traded up $0.32 during mid-day trading on Wednesday, hitting $12.26. 176,735 shares of the company's stock traded hands, compared to its average volume of 1,015,587. 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 $10.98 and a 1 year high of $17.07. The firm has a market capitalization of $1.31 billion, a P/E ratio of 24.04, a PEG ratio of 4.25 and a beta of 0.65. The business's 50-day moving average price is $14.10 and its 200-day moving average price is $15.32.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.05%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio (DPR) is -1,454.55%.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of the firm'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 transaction, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by insiders.

About Kimbell Royalty Partners