Kimbell Royalty Partners (NYSE:KRP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) saw an uptick in trading volume on Wednesday . 1,384,715 shares traded hands during trading, an increase of 112% from the previous session’s volume of 651,652 shares.The stock last traded at $15.29 and had previously closed at $16.27.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KRP. Truist Financial decreased their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th. KeyCorp decreased their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.40.

Kimbell Royalty Partners Price Performance

The company has a fifty day moving average of $15.98 and a 200-day moving average of $16.08. The firm has a market cap of $1.49 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business had revenue of $83.79 million for the quarter, compared to analysts’ expectations of $80.03 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 24.7% on a year-over-year basis. On average, sell-side analysts anticipate that Kimbell Royalty Partners, LP will post 0.69 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.41 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.54%. Kimbell Royalty Partners’s dividend payout ratio is currently 321.57%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Kimbell Royalty Partners

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Kimbell Royalty Partners by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock valued at $24,673,000 after purchasing an additional 260,332 shares during the last quarter. Raymond James & Associates grew its position in Kimbell Royalty Partners by 6.1% during the 3rd quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after acquiring an additional 64,678 shares during the last quarter. King Luther Capital Management Corp grew its position in Kimbell Royalty Partners by 7.3% during the 2nd quarter. King Luther Capital Management Corp now owns 440,919 shares of the energy company’s stock worth $7,213,000 after acquiring an additional 29,998 shares during the last quarter. Stifel Financial Corp grew its position in Kimbell Royalty Partners by 3.3% during the 3rd quarter. Stifel Financial Corp now owns 235,945 shares of the energy company’s stock worth $3,796,000 after acquiring an additional 7,626 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its position in Kimbell Royalty Partners by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 227,582 shares of the energy company’s stock worth $3,662,000 after acquiring an additional 30,788 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Company Profile