Kimbell Royalty Partners, LP (NYSE:KRP) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its position in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 9.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 240,000 shares of the energy company’s stock after buying an additional 20,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Kimbell Royalty Partners were worth $3,895,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KRP. Barclays PLC boosted its stake in shares of Kimbell Royalty Partners by 1,175.1% in the third quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock valued at $219,000 after buying an additional 12,538 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Kimbell Royalty Partners by 65.4% in the third quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock valued at $693,000 after acquiring an additional 17,029 shares during the period. Nordea Investment Management AB lifted its holdings in Kimbell Royalty Partners by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 111,669 shares of the energy company’s stock valued at $1,801,000 after acquiring an additional 2,066 shares during the period. Hilltop National Bank purchased a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth $49,000. Finally, Mirador Capital Partners LP grew its stake in shares of Kimbell Royalty Partners by 9.4% during the 4th quarter. Mirador Capital Partners LP now owns 57,828 shares of the energy company’s stock worth $939,000 after purchasing an additional 4,951 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 7,851 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now owns 49,263 shares in the company, valued at approximately $682,785.18. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. KeyCorp decreased their price objective on shares of Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Bank of America lowered their price target on 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 cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. One investment 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, the company presently has a consensus rating of “Hold” and a consensus price target of $17.40.

Kimbell Royalty Partners Stock Down 2.5 %

Shares of NYSE:KRP opened at $12.33 on Wednesday. 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 has a market capitalization of $1.32 billion, a P/E ratio of 24.17, a P/E/G ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners, LP has a 52-week low of $10.98 and a 52-week high of $17.07. The stock’s fifty day simple moving average is $13.46 and its 200-day simple moving average is $15.05.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were issued a $0.40 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a yield of 12.98%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is -1,454.55%.

Kimbell Royalty Partners Profile