Ridgemont Partners Management LLC Sells 2,356,453 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

Ridgemont Partners Management LLC trimmed its holdings in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 79.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 598,168 shares of the energy company's stock after selling 2,356,453 shares during the quarter. Kimbell Royalty Partners accounts for about 13.6% of Ridgemont Partners Management LLC's portfolio, making the stock its 2nd biggest holding. Ridgemont Partners Management LLC owned 0.63% of Kimbell Royalty Partners worth $9,708,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. LPL Financial LLC boosted its stake in shares of Kimbell Royalty Partners by 18.2% during the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company's stock worth $4,619,000 after acquiring an additional 43,852 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Kimbell Royalty Partners during the fourth quarter valued at $229,000. American Century Companies Inc. boosted its position in shares of Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company's stock valued at $35,842,000 after purchasing an additional 294,789 shares during the period. Atlas Wealth LLC purchased a new position in Kimbell Royalty Partners in the 4th quarter worth about $162,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Kimbell Royalty Partners during the 4th quarter worth about $211,000. Institutional investors and hedge funds own 25.78% of the company's stock.

Kimbell Royalty Partners Price Performance

Shares of KRP traded up $0.11 during trading hours on Thursday, hitting $14.26. The stock had a trading volume of 542,335 shares, compared to its average volume of 533,542. Kimbell Royalty Partners, LP has a 52 week low of $13.24 and a 52 week high of $17.07. The company's fifty day moving average is $15.07 and its two-hundred day moving average is $15.65. 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 has a market capitalization of $1.53 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 4.25 and a beta of 1.01.

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Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.22%. Kimbell Royalty Partners's dividend payout ratio (DPR) is presently -1,454.55%.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of the stock in a transaction on Tuesday, March 18th. The stock was 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 in the company, valued at approximately $682,785.18. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a "moderate buy" rating in a report on Friday, March 14th. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Truist Financial downgraded shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and reduced their price target for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Finally, Bank of America lowered their price objective 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.25.

Kimbell Royalty Partners Profile