Kimbell Royalty Partners, LP (NYSE:KRP - Get Free Report) insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Kimbell Royalty Partners Price Performance
Kimbell Royalty Partners stock traded down $0.16 during midday trading on Friday, reaching $16.18. The company had a trading volume of 71,884 shares, compared to its average volume of 370,433. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.68. Kimbell Royalty Partners, LP has a 12-month low of $14.26 and a 12-month high of $17.07. The company has a market capitalization of $1.55 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.00 and a beta of 1.13. The firm's fifty day simple moving average is $16.01 and its 200-day simple moving average is $16.22.
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Kimbell Royalty Partners (NYSE:KRP - Get Free Report) last released its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, beating 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 the consensus estimate of $80.03 million. During the same quarter last year, the business posted $0.19 earnings per share. The business's quarterly revenue was up 24.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kimbell Royalty Partners, LP will post 0.69 EPS for the current year.
Kimbell Royalty Partners Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.14%. Kimbell Royalty Partners's dividend payout ratio (DPR) is presently 329.42%.
Institutional Investors Weigh In On Kimbell Royalty Partners
A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new position in Kimbell Royalty Partners during the second quarter worth about $25,000. Summit Securities Group LLC acquired a new position in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company's stock valued at $49,000 after purchasing an additional 1,484 shares in the last quarter. Godsey & Gibb Inc. grew its position in shares of Kimbell Royalty Partners by 62.9% in the third quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company's stock valued at $66,000 after purchasing an additional 1,580 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Kimbell Royalty Partners in the second quarter valued at approximately $99,000. Hedge funds and other institutional investors own 25.78% of the company's stock.
Wall Street Analyst Weigh In
KRP has been the subject of a number of analyst reports. KeyCorp reduced their price target 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. Truist Financial cut their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.50.
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