CIBC Private Wealth Group LLC Buys Shares of 126,400 Kimbell Royalty Partners, LP (NYSE:KRP)

CIBC Private Wealth Group LLC purchased a new position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 126,400 shares of the energy company’s stock, valued at approximately $1,948,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Kimbell Royalty Partners during the 4th quarter valued at about $30,449,000. American Century Companies Inc. increased its stake in shares of Kimbell Royalty Partners by 15.4% during the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock worth $35,842,000 after purchasing an additional 294,789 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 74,098 shares during the last quarter. LPL Financial LLC lifted its stake in Kimbell Royalty Partners by 18.2% in the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company’s stock valued at $4,619,000 after buying an additional 43,852 shares in the last quarter. Finally, Accordant Advisory Group Inc grew its holdings in Kimbell Royalty Partners by 10.3% during the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after buying an additional 19,716 shares during the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Price Performance

KRP opened at $14.32 on Thursday. Kimbell Royalty Partners, LP has a 1 year low of $13.24 and a 1 year high of $17.07. 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 company’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $15.60. The stock has a market capitalization of $1.53 billion, a PE ratio of 28.08, a P/E/G 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. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.17%. Kimbell Royalty Partners’s payout ratio is -1,454.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Bank of America reduced their target price on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, March 4th. Truist Financial downgraded shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Mizuho began coverage on shares of Kimbell Royalty Partners in a research note on Monday. They set a “neutral” rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.80.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the sale, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Profile