Short Interest in Kimbell Royalty Partners, LP (NYSE:KRP) Expands By 39.3%

Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 982,000 shares, a growth of 39.3% from the February 13th total of 705,100 shares. Based on an average daily volume of 942,300 shares, the short-interest ratio is presently 1.0 days. Currently, 1.1% of the company's stock are sold short.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now directly owns 49,263 shares of the company's stock, valued at approximately $682,785.18. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company's stock.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds and other institutional investors have recently bought and sold shares of KRP. Accordant Advisory Group Inc increased its holdings in shares of Kimbell Royalty Partners by 10.3% during the fourth quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company's stock worth $3,431,000 after purchasing an additional 19,716 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in Kimbell Royalty Partners by 38.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company's stock worth $4,334,000 after acquiring an additional 74,098 shares during the period. JPMorgan Chase & Co. increased its stake in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 valued at $1,627,000 after acquiring an additional 10,176 shares in the last quarter. Finally, Barclays PLC lifted 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. Institutional investors and hedge funds own 25.78% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KRP shares. Bank of America cut 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 reaffirmed a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Truist Financial lowered Kimbell Royalty Partners from a "buy" rating to a "hold" rating and decreased their target price for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th.

Kimbell Royalty Partners Stock Performance

NYSE:KRP traded up $0.12 during mid-day trading on Thursday, hitting $14.22. 555,419 shares of the stock were exchanged, compared to its average volume of 525,613. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The firm's 50-day simple moving average is $15.16 and its 200 day simple moving average is $15.68. Kimbell Royalty Partners has a fifty-two week low of $13.24 and a fifty-two week high of $17.07. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.26%. The ex-dividend date of this dividend is Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio is -1,454.55%.

About Kimbell Royalty Partners