Kimbell Royalty Partners, LP (NYSE:KRP) Sees Significant Increase in Short Interest

Kimbell Royalty Partners, LP (NYSE:KRP) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 972,100 shares, the short-interest ratio is currently 1.4 days. Currently, 1.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

KRP has been the topic of a number of recent analyst reports. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $16.00 in a research report on Tuesday, March 4th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Bank of America lowered their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a report on Tuesday, March 4th. Mizuho began coverage on shares of Kimbell Royalty Partners in a report on Monday. They set a “neutral” rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada upgraded shares of Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.80.

Kimbell Royalty Partners Stock Performance

Shares of NYSE:KRP traded up $0.19 during trading on Tuesday, hitting $14.19. The stock had a trading volume of 323,952 shares, compared to its average volume of 551,554. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 12-month low of $13.24 and a 12-month high of $17.07. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. The stock has a 50-day simple moving average of $14.92 and a two-hundred day simple moving average of $15.62.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is presently -1,454.55%.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the transaction, the insider now owns 49,263 shares in the company, valued at $682,785.18. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is owned by company insiders.

Institutional Trading of Kimbell Royalty Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. TD Waterhouse Canada Inc. raised its holdings in shares of Kimbell Royalty Partners by 30.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,287 shares of the energy company’s stock worth $70,000 after purchasing an additional 1,000 shares during the last quarter. Virtus ETF Advisers LLC grew its position in Kimbell Royalty Partners by 10.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 11,053 shares of the energy company’s stock worth $179,000 after purchasing an additional 1,035 shares during the period. Wedbush Securities Inc. raised its stake in shares of Kimbell Royalty Partners by 3.4% during the 4th quarter. Wedbush Securities Inc. now owns 38,930 shares of the energy company’s stock valued at $632,000 after buying an additional 1,298 shares during the last quarter. AlphaCore Capital LLC lifted its holdings in shares of Kimbell Royalty Partners by 0.9% in the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company’s stock valued at $2,421,000 after buying an additional 1,350 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of Kimbell Royalty Partners by 6.0% in the fourth quarter. Vident Advisory LLC now owns 30,815 shares of the energy company’s stock worth $500,000 after buying an additional 1,747 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners