Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 36.5% in March

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,340,000 shares, a growth of 36.5% from the February 28th total of 982,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 972,100 shares, the days-to-cover ratio is presently 1.4 days.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the sale, the insider now 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 legal filing with the SEC, which is available at this link. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Large investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its stake in shares of Kimbell Royalty Partners by 30.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock worth $70,000 after acquiring an additional 1,000 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Kimbell Royalty Partners by 10.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,053 shares of the energy company's stock valued at $179,000 after purchasing an additional 1,035 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Kimbell Royalty Partners by 3.4% in the fourth quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company's stock worth $632,000 after acquiring an additional 1,298 shares during the period. AlphaCore Capital LLC lifted its holdings in Kimbell Royalty Partners by 0.9% in the fourth quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company's stock valued at $2,421,000 after acquiring an additional 1,350 shares during the period. Finally, Vident Advisory LLC grew its position in Kimbell Royalty Partners by 6.0% during the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company's stock valued at $500,000 after buying an additional 1,747 shares during the period. Institutional investors own 25.78% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages recently weighed in on KRP. Mizuho initiated coverage on shares of Kimbell Royalty Partners in a research note on Monday. They issued a "neutral" rating and a $16.00 target price on the stock. Bank of America lowered their price objective on shares of 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 raised shares of Kimbell Royalty Partners to a "moderate buy" rating in a report on Friday, March 14th. Raymond James reissued a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Finally, Truist Financial lowered Kimbell Royalty Partners from a "buy" rating to a "hold" rating and dropped their price target for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kimbell Royalty Partners currently has an average rating of "Hold" and an average target price of $17.80.

Kimbell Royalty Partners Trading Up 0.7 %

Shares of KRP stock traded up $0.10 on Wednesday, hitting $14.32. 373,679 shares of the company's stock traded hands, compared to its average volume of 552,115. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 4.25 and a beta of 0.65. The company's fifty day simple moving average is $14.85 and its 200 day simple moving average is $15.60. Kimbell Royalty Partners has a one year low of $13.24 and a one year high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20.

Kimbell Royalty Partners Cuts Dividend

The business 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 annualized dividend and a yield of 11.17%. Kimbell Royalty Partners's payout ratio is -1,454.55%.

Kimbell Royalty Partners Company Profile