Raymond James & Associates Boosts Stake in Kimbell Royalty Partners, LP (NYSE:KRP)

Raymond James & Associates boosted its position in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,118,570 shares of the energy company's stock after acquiring an additional 64,678 shares during the quarter. Raymond James & Associates owned 1.17% of Kimbell Royalty Partners worth $17,998,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Howard Financial Services LTD. purchased a new stake in Kimbell Royalty Partners during the third quarter valued at about $205,000. Mirador Capital Partners LP lifted its position in Kimbell Royalty Partners by 6.5% in the third quarter. Mirador Capital Partners LP now owns 52,877 shares of the energy company's stock valued at $851,000 after purchasing an additional 3,226 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of Kimbell Royalty Partners by 4.7% during the second quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company's stock valued at $300,000 after purchasing an additional 823 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Kimbell Royalty Partners by 98.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company's stock valued at $49,000 after buying an additional 1,484 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Kimbell Royalty Partners in the 2nd quarter worth $223,000. Hedge funds and other institutional investors own 25.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KRP shares. Truist Financial lowered their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, September 30th. KeyCorp dropped their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.50.

Kimbell Royalty Partners Trading Down 1.1 %

Shares of NYSE KRP traded down $0.17 during midday trading on Friday, hitting $16.02. 342,184 shares of the company traded hands, compared to its average volume of 364,769. The stock has a 50-day moving average price of $15.90 and a 200 day moving average price of $16.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.68 and a current ratio of 5.68. The firm has a market cap of $1.53 billion, a P/E ratio of 33.38, a P/E/G ratio of 1.86 and a beta of 1.13. Kimbell Royalty Partners, LP has a 12-month low of $14.26 and a 12-month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The firm had revenue of $76.60 million during the quarter, compared to analysts' expectations of $81.19 million. During the same period in the previous year, the company earned $0.23 earnings per share. Kimbell Royalty Partners's revenue for the quarter was up 26.0% on a year-over-year basis. As a group, analysts expect that Kimbell Royalty Partners, LP will post 0.74 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.49%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners's payout ratio is currently 350.00%.

Insiders Place Their Bets

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares in the company, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company's stock.

Kimbell Royalty Partners Profile