Blayne Rhynsburger Sells 7,851 Shares of Kimbell Royalty Partners, LP (NYSE:KRP) Stock

Kimbell Royalty Partners, LP (NYSE:KRP) insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the transaction, the insider now directly owns 49,263 shares of the company’s stock, valued at $682,785.18. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kimbell Royalty Partners Stock Down 1.0 %

KRP stock opened at $14.05 on Friday. The company has a 50 day moving average price of $15.13 and a two-hundred day moving average price of $15.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.55, a PEG ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners, LP has a one year low of $13.24 and a one year high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.39%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust purchased a new stake in Kimbell Royalty Partners in the 4th quarter valued at about $32,000. PNC Financial Services Group Inc. purchased a new stake in Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp increased its position in Kimbell Royalty Partners by 293.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after purchasing an additional 2,028 shares during the last quarter. Hilltop National Bank purchased a new position in Kimbell Royalty Partners during the fourth quarter worth approximately $49,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at $55,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. Bank of America reduced their target price on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 4th. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $16.00 in a research report on Tuesday, March 4th. Finally, Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.25.

About Kimbell Royalty Partners