Ridgemont Partners Management LLC Has $47.54 Million Stake in Kimbell Royalty Partners, LP (NYSE:KRP)

Ridgemont Partners Management LLC reduced its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 49.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,954,621 shares of the energy company’s stock after selling 2,936,076 shares during the quarter. Kimbell Royalty Partners comprises 41.3% of Ridgemont Partners Management LLC’s portfolio, making the stock its 2nd biggest holding. Ridgemont Partners Management LLC’s holdings in Kimbell Royalty Partners were worth $47,540,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. National Bank of Canada FI increased its stake in Kimbell Royalty Partners by 5.5% in the 2nd quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock worth $217,000 after purchasing an additional 685 shares during the period. California State Teachers Retirement System increased its stake in shares of Kimbell Royalty Partners by 1.2% in the first quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock worth $927,000 after buying an additional 700 shares during the period. Centaurus Financial Inc. increased its stake in shares of Kimbell Royalty Partners by 4.7% in the second quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock worth $300,000 after buying an additional 823 shares during the period. Raymond James Trust N.A. raised its holdings in Kimbell Royalty Partners by 6.6% during the 2nd quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock valued at $257,000 after buying an additional 974 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Kimbell Royalty Partners by 98.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after buying an additional 1,484 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial decreased their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Kimbell Royalty Partners Stock Performance

NYSE:KRP opened at $16.44 on Monday. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $15.84 and its 200 day simple moving average is $16.18. The stock has a market cap of $1.57 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, research analysts predict that Kimbell Royalty Partners, LP will post 0.83 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 annualized dividend and a dividend yield of 10.22%. Kimbell Royalty Partners’s dividend payout ratio is presently 280.00%.

About Kimbell Royalty Partners