AE Wealth Management LLC grew its holdings in Kimbell Royalty Partners, LP (NYSE:KRP – Get Rating) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,392 shares of the energy company’s stock after acquiring an additional 4,486 shares during the period. AE Wealth Management LLC owned about 0.05% of Kimbell Royalty Partners worth $558,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in KRP. American Century Companies Inc. purchased a new stake in Kimbell Royalty Partners during the first quarter worth $719,000. US Bancorp DE purchased a new stake in Kimbell Royalty Partners during the first quarter worth $114,000. Vanguard Group Inc. boosted its holdings in Kimbell Royalty Partners by 35.8% during the first quarter. Vanguard Group Inc. now owns 207,439 shares of the energy company’s stock worth $3,373,000 after buying an additional 54,641 shares in the last quarter. First Trust Advisors LP boosted its holdings in Kimbell Royalty Partners by 2.7% during the first quarter. First Trust Advisors LP now owns 264,568 shares of the energy company’s stock worth $4,302,000 after buying an additional 6,875 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Kimbell Royalty Partners by 55.8% during the first quarter. Renaissance Technologies LLC now owns 333,300 shares of the energy company’s stock worth $5,419,000 after buying an additional 119,359 shares in the last quarter. 47.51% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Blayne Rhynsburger sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $15.15, for a total transaction of $30,300.00. Following the completion of the sale, the insider now directly owns 56,191 shares in the company, valued at $851,293.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
KRP has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Kimbell Royalty Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 12th. Raymond James increased their price objective on shares of Kimbell Royalty Partners from $19.00 to $21.00 and gave the company a “strong-buy” rating in a report on Friday, April 14th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kimbell Royalty Partners has a consensus rating of “Buy” and an average price target of $21.00.
Kimbell Royalty Partners Stock Performance
KRP opened at $15.90 on Thursday. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 9.09 and a beta of 1.36. Kimbell Royalty Partners, LP has a 52-week low of $13.85 and a 52-week high of $20.08. The firm’s fifty day simple moving average is $15.45 and its two-hundred day simple moving average is $16.49.
Kimbell Royalty Partners (NYSE:KRP – Get Rating) last issued its earnings results on Thursday, February 23rd. The energy company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.19. The business had revenue of $68.67 million during the quarter, compared to analysts’ expectations of $54.79 million. Kimbell Royalty Partners had a net margin of 47.32% and a return on equity of 30.25%. Equities analysts anticipate that Kimbell Royalty Partners, LP will post 0.91 earnings per share for the current fiscal year.
Kimbell Royalty Partners Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Thursday, March 9th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 12.08%. The ex-dividend date of this dividend was Wednesday, March 8th. Kimbell Royalty Partners’s payout ratio is currently 109.71%.
Kimbell Royalty Partners Company Profile
Kimbell Royalty Partners LP engages in owning and acquiring mineral and royalty interests in oil and natural gas properties. The company was founded by Robert Ravnaas, R. Davis Ravnaas, Brett G. Taylor on October 30, 2015 and is headquartered in Fort Worth, TX.
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