Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 36.5% in March

Kimbell Royalty Partners, LP (NYSE:KRP) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,340,000 shares, an increase of 36.5% from the February 28th total of 982,000 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 972,100 shares, the days-to-cover ratio is presently 1.4 days.

Insiders Place Their Bets

In other news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the sale, the insider now directly owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its stake in shares of Kimbell Royalty Partners by 15.4% during the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock worth $35,842,000 after acquiring an additional 294,789 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Kimbell Royalty Partners during the fourth quarter worth $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kimbell Royalty Partners by 14.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock worth $10,511,000 after purchasing an additional 82,499 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Kimbell Royalty Partners by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock valued at $7,192,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Orvieto Partners L.P. purchased a new position in shares of Kimbell Royalty Partners in the fourth quarter valued at $6,103,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Partners Price Performance

Shares of NYSE KRP traded down $0.03 during trading on Monday, hitting $14.04. 186,761 shares of the company were exchanged, compared to its average volume of 549,183. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. Kimbell Royalty Partners has a 1 year low of $13.24 and a 1 year high of $17.07. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 4.25 and a beta of 1.01. The firm’s fifty day moving average price is $14.96 and its 200 day moving average price is $15.63.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.40%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRP. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $16.00 in a research note on Tuesday, March 4th. Mizuho started coverage on shares of Kimbell Royalty Partners in a research report on Monday. They issued a “neutral” rating and a $16.00 price target for the company. Bank of America lowered their price objective on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 4th. Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. Finally, Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.80.

Kimbell Royalty Partners Company Profile