LPL Financial LLC Buys 43,852 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

LPL Financial LLC lifted its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,626 shares of the energy company's stock after purchasing an additional 43,852 shares during the period. LPL Financial LLC owned 0.30% of Kimbell Royalty Partners worth $4,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust bought a new position in Kimbell Royalty Partners in the 4th quarter valued at $32,000. Jones Financial Companies Lllp grew its position in Kimbell Royalty Partners by 293.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company's stock valued at $44,000 after buying an additional 2,028 shares during the period. Hilltop National Bank bought a new position in shares of Kimbell Royalty Partners during the 4th quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Kimbell Royalty Partners by 166.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,000 shares of the energy company's stock valued at $65,000 after purchasing an additional 2,500 shares during the period. 25.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KRP. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a "moderate buy" rating in a research note on Friday, March 14th. Truist Financial downgraded Kimbell Royalty Partners from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James restated a "market perform" rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Mizuho began coverage on Kimbell Royalty Partners in a report on Monday, March 31st. They issued a "neutral" rating and a $16.00 price target on the stock. Finally, Bank of America dropped their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an "underperform" rating for the company in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kimbell Royalty Partners currently has a consensus rating of "Hold" and a consensus price target of $17.80.

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Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 7,851 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the sale, the insider now directly owns 49,263 shares in the company, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Kimbell Royalty Partners Price Performance

KRP traded up $0.15 during trading on Tuesday, reaching $11.97. The stock had a trading volume of 64,415 shares, compared to its average volume of 1,020,073. 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 business has a 50-day moving average of $14.17 and a 200-day moving average of $15.34. Kimbell Royalty Partners, LP has a one year low of $10.98 and a one year high of $17.07. The stock has a market cap of $1.28 billion, a PE ratio of 23.48, a PEG ratio of 4.25 and a beta of 0.65.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were issued 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 dividend yield of 13.36%. Kimbell Royalty Partners's dividend payout ratio is -1,454.55%.

Kimbell Royalty Partners Company Profile