Raymond James Financial Inc. acquired a new stake in Kimbell Royalty Partners, LP (NYSE:KRP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,876,085 shares of the energy company's stock, valued at approximately $30,449,000. Raymond James Financial Inc. owned approximately 1.96% of Kimbell Royalty Partners at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. grew its stake in Kimbell Royalty Partners by 10.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 96,377 shares of the energy company's stock worth $1,551,000 after purchasing an additional 9,000 shares in the last quarter. AlphaCore Capital LLC boosted its position in shares of Kimbell Royalty Partners by 0.5% during the 3rd quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company's stock worth $2,378,000 after acquiring an additional 675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kimbell Royalty Partners by 11.2% during 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 worth $1,627,000 after acquiring an additional 10,176 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Kimbell Royalty Partners by 19.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company's stock worth $512,000 after acquiring an additional 5,190 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Kimbell Royalty Partners by 34.7% during the 3rd quarter. Verition Fund Management LLC now owns 20,200 shares of the energy company's stock worth $325,000 after acquiring an additional 5,200 shares in the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
KRP has been the subject of several analyst reports. Truist Financial cut 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. Bank of America reduced their price objective on 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. Finally, Raymond James reaffirmed a "market perform" rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd.
Check Out Our Latest Stock Analysis on Kimbell Royalty Partners
Kimbell Royalty Partners Price Performance
Kimbell Royalty Partners stock traded up $0.12 during mid-day trading on Tuesday, hitting $14.00. 647,069 shares of the company were exchanged, compared to its average volume of 522,911. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The business's 50 day simple moving average is $15.30 and its two-hundred day simple moving average is $15.73. The company has a market capitalization of $1.50 billion, a P/E ratio of 27.44, a PEG ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners, LP has a 12-month low of $13.24 and a 12-month high of $17.07.
Kimbell Royalty Partners Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.43%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners's dividend payout ratio is currently -1,454.55%.
Kimbell Royalty Partners Company Profile
(
Free Report)
Featured Stories
Before you consider Kimbell Royalty Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kimbell Royalty Partners wasn't on the list.
While Kimbell Royalty Partners currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
