Mill Road Capital Management LLC Decreases Stake in Kimbell Royalty Partners, LP (NYSE:KRP)

Mill Road Capital Management LLC decreased its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 912,298 shares of the energy company's stock after selling 334,179 shares during the period. Kimbell Royalty Partners accounts for about 7.1% of Mill Road Capital Management LLC's holdings, making the stock its 6th largest position. Mill Road Capital Management LLC owned about 0.96% of Kimbell Royalty Partners worth $14,807,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in KRP. Orvieto Partners L.P. acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter worth $6,103,000. Adage Capital Partners GP L.L.C. raised its holdings in Kimbell Royalty Partners by 9.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,000 shares of the energy company's stock worth $3,895,000 after acquiring an additional 20,000 shares during the period. Stifel Financial Corp lifted its position in Kimbell Royalty Partners by 6.2% during the 4th quarter. Stifel Financial Corp now owns 250,502 shares of the energy company's stock worth $4,066,000 after acquiring an additional 14,557 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in Kimbell Royalty Partners by 30.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company's stock valued at $70,000 after acquiring an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Kimbell Royalty Partners by 230.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,922 shares of the energy company's stock valued at $145,000 after purchasing an additional 6,222 shares during the last quarter. 25.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total value of $108,814.86. Following the transaction, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.60% of the company's stock.

Kimbell Royalty Partners Price Performance

NYSE KRP traded up $0.03 during trading on Friday, reaching $12.32. 310,110 shares of the company traded hands, compared to its average volume of 592,137. Kimbell Royalty Partners, LP has a 1-year low of $10.98 and a 1-year high of $17.07. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 4.25 and a beta of 0.65. The stock's 50 day moving average price is $13.59 and its two-hundred day moving average price is $15.11. 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.99%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio is -1,454.55%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. KeyCorp decreased their target price on Kimbell Royalty Partners from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Truist Financial cut Kimbell Royalty Partners from a "buy" rating to a "hold" rating and reduced their price objective for the company from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James reissued a "market perform" rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Bank of America cut their price objective on shares of 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. Finally, Royal Bank of Canada raised Kimbell Royalty Partners to a "moderate buy" rating in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of "Hold" and a consensus price target of $17.40.

Kimbell Royalty Partners Company Profile