Insider Selling: Kimbell Royalty Partners, LP (NYSE:KRP) Insider Sells $82,050.00 in Stock

Kimbell Royalty Partners, LP (NYSE:KRP) insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total value of $82,050.00. Following the completion of the sale, the insider now owns 45,164 shares in the company, valued at approximately $741,141.24. This represents a 9.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kimbell Royalty Partners Price Performance

Shares of NYSE KRP opened at $15.96 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.68. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.96 and a beta of 1.13. The firm’s 50 day simple moving average is $16.05 and its 200-day simple moving average is $16.22. Kimbell Royalty Partners, LP has a 12 month low of $14.26 and a 12 month high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. Analysts expect that Kimbell Royalty Partners, LP will post 0.69 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.64 annualized dividend and a dividend yield of 10.28%. Kimbell Royalty Partners’s dividend payout ratio is presently 329.42%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial dropped their price objective on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, September 30th. KeyCorp decreased their target price on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Hedge Funds Weigh In On Kimbell Royalty Partners

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at approximately $43,000. Northwestern Mutual Wealth Management Co. grew its stake in Kimbell Royalty Partners by 98.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after acquiring an additional 1,484 shares during the period. Godsey & Gibb Inc. increased its holdings in Kimbell Royalty Partners by 62.9% in the 3rd quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock worth $66,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in Kimbell Royalty Partners during the third quarter worth $79,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

About Kimbell Royalty Partners