Kimbell Royalty Partners, LP (NYSE:KRP) Shares Sold by Mill Road Capital Management LLC

Mill Road Capital Management LLC reduced its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,246,477 shares of the energy company's stock after selling 244,903 shares during the quarter. Kimbell Royalty Partners makes up 9.5% of Mill Road Capital Management LLC's investment portfolio, making the stock its 2nd largest position. Mill Road Capital Management LLC owned approximately 1.31% of Kimbell Royalty Partners worth $20,056,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Kimbell Royalty Partners by 1,509.0% during the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company's stock worth $1,573,000 after buying an additional 91,672 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $1,227,000. U.S. Capital Wealth Advisors LLC purchased a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $1,032,000. Oppenheimer & Co. Inc. grew its holdings in Kimbell Royalty Partners by 102.9% in the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company's stock valued at $1,429,000 after purchasing an additional 44,320 shares during the period. Finally, Raymond James & Associates grew its holdings in Kimbell Royalty Partners by 6.1% in the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company's stock valued at $17,998,000 after purchasing an additional 64,678 shares during the period. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Stock Down 1.6 %

Shares of NYSE KRP traded down $0.26 during trading on Wednesday, reaching $15.88. 386,348 shares of the stock were exchanged, compared to its average volume of 379,996. The business's 50-day moving average price is $16.14 and its 200 day moving average price is $16.20. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.07. 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 capitalization of $1.52 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last posted its earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $83.79 million for the quarter, compared to analysts' expectations of $80.03 million. During the same period in the previous year, the company posted $0.19 earnings per share. The business's revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, equities analysts forecast that Kimbell Royalty Partners, LP will post 0.69 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.41 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.33%. Kimbell Royalty Partners's dividend payout ratio is presently 321.57%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now owns 45,164 shares in the company, valued at $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KRP has been the subject of a number of recent analyst reports. KeyCorp lowered their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Truist Financial reduced their price target on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.40.

Kimbell Royalty Partners Company Profile