Blayne Rhynsburger Sells 7,851 Shares of Kimbell Royalty Partners, LP (NYSE:KRP) Stock

Kimbell Royalty Partners, LP (NYSE:KRP) 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 transaction of $108,814.86. Following the sale, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock traded up $0.12 during midday trading on Wednesday, reaching $14.11. 610,693 shares of the company’s stock were exchanged, compared to its average volume of 1,081,565. The stock’s 50-day simple moving average is $15.22 and its 200 day simple moving average is $15.70. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 4.25 and a beta of 1.01. 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, LP has a 52 week low of $13.24 and a 52 week high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 annualized dividend and a dividend yield of 11.34%. Kimbell Royalty Partners’s dividend payout ratio is currently -1,454.55%.

Institutional Investors Weigh In On Kimbell Royalty Partners

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

Analysts Set New Price Targets

Several research firms recently issued reports on KRP. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Finally, Bank of America decreased their target price on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th.

About Kimbell Royalty Partners