Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Down 13.7% in November

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,770,000 shares, a decrease of 13.7% from the October 31st total of 2,050,000 shares. Based on an average daily trading volume, of 414,800 shares, the days-to-cover ratio is presently 4.3 days.

Insider Activity

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the company'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 sale, the insider now directly owns 45,164 shares of the company's stock, valued at approximately $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of Kimbell Royalty Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgemont Partners Management LLC bought a new position in shares of Kimbell Royalty Partners during the second quarter valued at approximately $96,372,000. American Century Companies Inc. lifted its position in shares of Kimbell Royalty Partners by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company's stock valued at $24,673,000 after buying an additional 260,332 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Kimbell Royalty Partners by 1,509.0% during the 3rd quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company's stock valued at $1,573,000 after buying an additional 91,672 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at $1,227,000. Finally, Raymond James & Associates lifted its stake in shares of Kimbell Royalty Partners by 6.1% during the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company's stock valued at $17,998,000 after buying an additional 64,678 shares in the last quarter. Hedge funds and other institutional investors own 25.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KRP shares. KeyCorp dropped their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Truist Financial decreased 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 note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.40.

Kimbell Royalty Partners Trading Up 1.1 %

NYSE KRP traded up $0.18 during trading hours on Friday, reaching $16.18. The company's stock had a trading volume of 281,416 shares, compared to its average volume of 532,565. The firm has a fifty day simple moving average of $16.13 and a 200-day simple moving average of $16.21. The stock has a market cap of $1.55 billion, a P/E ratio of 31.73, a P/E/G ratio of 1.99 and a beta of 1.13. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 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.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, topping the consensus estimate 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 company had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. During the same quarter last year, the firm posted $0.19 EPS. The company's quarterly revenue was up 24.7% on a year-over-year basis. Equities analysts forecast that Kimbell Royalty Partners will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 10.14%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners's dividend payout ratio is currently 321.57%.

About Kimbell Royalty Partners