Short Interest in Kimbell Royalty Partners, LP (NYSE:KRP) Grows By 36.5%

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) saw a significant growth in short interest during the month of 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 company are sold short. Based on an average trading volume of 972,100 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KRP shares. Bank of America reduced their target price 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. Raymond James reiterated a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Royal Bank of Canada raised Kimbell Royalty Partners to a "moderate buy" rating in a report on Friday, March 14th. Mizuho assumed coverage on shares of Kimbell Royalty Partners in a report on Monday. They set a "neutral" rating and a $16.00 target price on the stock. Finally, Truist Financial cut shares of Kimbell Royalty Partners from a "buy" rating to a "hold" rating and decreased their price target for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.80.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of the firm'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 completion of the sale, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Accordant Advisory Group Inc increased its position in shares of Kimbell Royalty Partners by 10.3% in the fourth quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company's stock valued at $3,431,000 after acquiring an additional 19,716 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Kimbell Royalty Partners by 38.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company's stock valued at $4,334,000 after acquiring an additional 74,098 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Kimbell Royalty Partners by 65.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company's stock worth $693,000 after acquiring an additional 17,029 shares during the last quarter. Barclays PLC grew its position in shares of Kimbell Royalty Partners by 1,175.1% during the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company's stock valued at $219,000 after acquiring an additional 12,538 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Kimbell Royalty Partners by 11.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company's stock worth $1,627,000 after purchasing an additional 10,176 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock traded down $1.14 during trading on Friday, hitting $12.46. 1,052,773 shares of the stock traded hands, compared to its average volume of 556,170. The firm's fifty day moving average is $14.80 and its 200-day moving average is $15.59. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners has a 52 week low of $12.39 and a 52 week 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.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.84%. Kimbell Royalty Partners's payout ratio is -1,454.55%.

Kimbell Royalty Partners Company Profile