UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 10,176 Shares of Kimbell Royalty Partners, LP (NYSE:KRP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kimbell Royalty Partners, LP (NYSE:KRP) by 11.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 101,134 shares of the energy company’s stock after purchasing an additional 10,176 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kimbell Royalty Partners were worth $1,627,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates grew its stake in Kimbell Royalty Partners by 1.7% during the 2nd quarter. Raymond James & Associates now owns 1,053,892 shares of the energy company’s stock worth $17,242,000 after buying an additional 17,629 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Kimbell Royalty Partners by 6.6% during the second quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock valued at $257,000 after acquiring an additional 974 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at approximately $199,000. Summit Securities Group LLC acquired a new stake in Kimbell Royalty Partners in the 2nd quarter worth approximately $43,000. Finally, International Assets Investment Management LLC purchased a new stake in Kimbell Royalty Partners during the 2nd quarter worth approximately $99,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. This trade represents a 9.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Trading Down 1.0 %

Shares of KRP stock opened at $15.75 on Tuesday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.93 and a beta of 1.12. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $16.09 and its 200-day moving average price is $16.15.

Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The company had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. During the same period in the prior year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, equities analysts predict that Kimbell Royalty Partners, LP will post 0.69 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 10.41%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

Wall Street Analyst Weigh In

KRP has been the subject of several research reports. KeyCorp lowered their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial dropped their price target on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kimbell Royalty Partners has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Kimbell Royalty Partners Profile