Natural Resource Partners L.P. (NYSE:NRP) Stake Reduced by Covey Capital Advisors LLC

Covey Capital Advisors LLC trimmed its stake in Natural Resource Partners L.P. (NYSE:NRP) by 20.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 12,591 shares of the energy company’s stock after selling 3,158 shares during the quarter. Natural Resource Partners makes up about 1.4% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Covey Capital Advisors LLC owned about 0.10% of Natural Resource Partners worth $1,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Natural Resource Partners during the second quarter worth approximately $34,000. Covestor Ltd acquired a new position in Natural Resource Partners during the 3rd quarter worth $60,000. PEAK6 Investments LLC bought a new position in shares of Natural Resource Partners in the first quarter worth $207,000. Landscape Capital Management L.L.C. bought a new position in shares of Natural Resource Partners in the third quarter worth $324,000. Finally, Stokes Family Office LLC increased its holdings in shares of Natural Resource Partners by 17.8% during the second quarter. Stokes Family Office LLC now owns 6,625 shares of the energy company’s stock valued at $594,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 31.77% of the company’s stock.

Natural Resource Partners Trading Up 0.5 %

Natural Resource Partners stock opened at $109.50 on Friday. Natural Resource Partners L.P. has a 12-month low of $74.93 and a 12-month high of $113.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 2.33. The stock has a market capitalization of $1.42 billion, a PE ratio of 8.81 and a beta of 0.50. The firm has a 50 day simple moving average of $100.62 and a 200-day simple moving average of $94.04.

Natural Resource Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Tuesday, November 19th. Natural Resource Partners’s dividend payout ratio (DPR) is presently 24.14%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Natural Resource Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 17th.

About Natural Resource Partners

Natural Resource Partners L.P., together with its subsidiaries, owns, manages, and leases a portfolio of mineral properties in the United States. It operates in two segments, Mineral Rights and Soda Ash. The company owns interests in coal, soda ash, trona, and other natural resources. Its coal reserves are primarily located in the Appalachia Basin, the Illinois Basin, and the Northern Powder River Basin in the United States; industrial minerals and aggregates properties located in the United States; and oil and gas properties located in Louisiana.