Stifel Financial Corp Boosts Stock Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Stifel Financial Corp raised its holdings in Kimbell Royalty Partners, LP (NYSE:KRP) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,945 shares of the energy company’s stock after purchasing an additional 7,626 shares during the period. Stifel Financial Corp’s holdings in Kimbell Royalty Partners were worth $3,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. HighTower Advisors LLC raised its holdings in Kimbell Royalty Partners by 42.6% in the third quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company’s stock valued at $345,000 after acquiring an additional 6,401 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Kimbell Royalty Partners by 34.7% in the 3rd quarter. Verition Fund Management LLC now owns 20,200 shares of the energy company’s stock valued at $325,000 after purchasing an additional 5,200 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Kimbell Royalty Partners by 19.5% during the third quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock worth $512,000 after purchasing an additional 5,190 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kimbell Royalty Partners by 11.2% during the third 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 purchasing an additional 10,176 shares during the last quarter. Finally, AlphaCore Capital LLC grew its stake in Kimbell Royalty Partners by 0.5% in the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock worth $2,378,000 after purchasing an additional 675 shares in 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 $15.75 on Tuesday. The company has a quick ratio of 5.20, a current 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, LP has a fifty-two week low of $14.26 and a fifty-two week high of $17.07. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.41 per share. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a dividend yield of 10.41%. Kimbell Royalty Partners’s dividend payout ratio is currently 321.57%.

Insider Transactions at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the business’s 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 transaction, the insider now directly owns 45,164 shares in the company, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on KRP shares. KeyCorp cut their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock 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 report on Monday, September 30th. One equities 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 presently has an average rating of “Moderate Buy” and an average target price of $20.40.

Kimbell Royalty Partners Company Profile