1,876,085 Shares in Kimbell Royalty Partners, LP (NYSE:KRP) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,876,085 shares of the energy company’s stock, valued at approximately $30,449,000.

Several other large investors have also recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC raised its position in Kimbell Royalty Partners by 38.4% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock worth $4,334,000 after purchasing an additional 74,098 shares during the period. Accordant Advisory Group Inc lifted its stake in shares of Kimbell Royalty Partners by 10.3% in the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock valued at $3,431,000 after acquiring an additional 19,716 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Kimbell Royalty Partners by 65.4% during the 3rd 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. Barclays PLC grew its position in Kimbell Royalty Partners by 1,175.1% during the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after acquiring an additional 12,538 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Kimbell Royalty Partners by 11.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 107,087 shares of the energy company’s stock worth $1,738,000 after purchasing an additional 10,710 shares during the period. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Stock Up 2.8 %

KRP stock opened at $14.02 on Friday. Kimbell Royalty Partners, LP has a fifty-two week low of $13.24 and a fifty-two week high of $17.07. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. The business’s 50 day moving average price is $15.35 and its two-hundred day moving average price is $15.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.42%. The ex-dividend date of this dividend is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KRP shares. Truist Financial cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Bank of America cut 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.

Kimbell Royalty Partners Company Profile