Kimbell Royalty Partners, LP (NYSE:KRP) Shares Bought by Swiss National Bank

Swiss National Bank grew its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,300 shares of the energy company's stock after purchasing an additional 18,700 shares during the quarter. Swiss National Bank owned approximately 0.14% of Kimbell Royalty Partners worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in Kimbell Royalty Partners by 166.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,000 shares of the energy company's stock worth $65,000 after acquiring an additional 2,500 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Kimbell Royalty Partners by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 24,173 shares of the energy company's stock worth $392,000 after purchasing an additional 2,750 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Kimbell Royalty Partners by 0.5% in the 4th quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company's stock valued at $7,192,000 after purchasing an additional 2,200 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Kimbell Royalty Partners in the 4th quarter valued at about $32,000. Finally, Highlander Partners L.P. boosted its position in shares of Kimbell Royalty Partners by 97.1% in the 4th quarter. Highlander Partners L.P. now owns 20,300 shares of the energy company's stock valued at $329,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 25.78% of the company's stock.

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Insider Activity

In other news, 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 value of $108,814.86. Following the completion of the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.60% of the company's stock.

Kimbell Royalty Partners Stock Performance

Shares of NYSE:KRP traded down $0.20 during trading on Friday, reaching $14.06. The company had a trading volume of 614,230 shares, compared to its average volume of 550,557. Kimbell Royalty Partners, LP has a fifty-two week low of $13.24 and a fifty-two week high of $17.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The stock's fifty day moving average price is $14.96 and its 200 day moving average price is $15.63. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.38%. The ex-dividend date of this dividend was Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio (DPR) is presently -1,454.55%.

Wall Street Analysts Forecast Growth

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

About Kimbell Royalty Partners