American Century Companies Inc. Boosts Position in Kimbell Royalty Partners, LP (NYSE:KRP)

American Century Companies Inc. grew its stake in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 15.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,208,353 shares of the energy company's stock after acquiring an additional 294,789 shares during the period. American Century Companies Inc. owned about 2.31% of Kimbell Royalty Partners worth $35,842,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Kimbell Royalty Partners in the fourth quarter worth $32,000. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 2,028 shares during the period. Hilltop National Bank acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at $49,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Kimbell Royalty Partners by 166.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,000 shares of the energy company's stock valued at $65,000 after purchasing an additional 2,500 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now owns 49,263 shares of the company's stock, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.60% of the company's stock.

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Kimbell Royalty Partners Stock Performance

NYSE KRP traded up $0.10 during trading hours on Wednesday, hitting $14.32. 373,679 shares of the stock were exchanged, compared to its average volume of 552,115. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners, LP has a 12-month low of $13.24 and a 12-month high of $17.07. The stock has a 50-day moving average of $14.85 and a 200 day moving average of $15.60.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio (DPR) is -1,454.55%.

Analyst Ratings Changes

KRP has been the topic of a number of analyst reports. Bank of America reduced their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 4th. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and lowered their price target for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Raymond James restated a "market perform" rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Finally, Mizuho started coverage on shares of Kimbell Royalty Partners in a research note on Monday. They set a "neutral" rating and a $16.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.80.

Kimbell Royalty Partners Company Profile