Kimbell Royalty Partners LP (NYSE:KRP) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 20,200 shares, a decrease of 40.8% from the May 30th total of 34,100 shares. Based on an average daily volume of 85,300 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the shares of the company are sold short.
Shares of KRP stock traded up $0.06 during mid-day trading on Friday, reaching $15.89. The stock had a trading volume of 194,072 shares, compared to its average volume of 88,221. The company has a current ratio of 8.07, a quick ratio of 8.07 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $365.60 million, a price-to-earnings ratio of -79.45 and a beta of 1.48. Kimbell Royalty Partners has a one year low of $13.01 and a one year high of $24.40. The company has a 50 day moving average of $16.33.
Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, May 9th. The energy company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The company had revenue of $17.95 million for the quarter, compared to the consensus estimate of $22.32 million. Kimbell Royalty Partners had a positive return on equity of 1.02% and a negative net margin of 9.87%. As a group, sell-side analysts expect that Kimbell Royalty Partners will post 0.14 earnings per share for the current year.
In related news, major shareholder Minerals & Royalties Haymaker sold 3,200,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $16.25, for a total transaction of $52,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.20% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. lifted its position in shares of Kimbell Royalty Partners by 1,025.2% during the 4th quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock worth $38,000 after buying an additional 2,563 shares during the period. Barclays PLC bought a new position in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $113,000. Corundum Group Inc. bought a new position in shares of Kimbell Royalty Partners during the 4th quarter worth approximately $153,000. Trustcore Financial Services LLC lifted its position in shares of Kimbell Royalty Partners by 42.8% during the 1st quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock worth $293,000 after buying an additional 4,810 shares during the period. Finally, Meridian Wealth Advisors LLC lifted its position in shares of Kimbell Royalty Partners by 21.0% during the 1st quarter. Meridian Wealth Advisors LLC now owns 23,016 shares of the energy company’s stock worth $421,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.
A number of analysts have commented on the company. Stifel Nicolaus set a $14.00 price objective on Roadrunner Transportation Systems and gave the stock a “hold” rating in a research report on Tuesday, May 28th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. UBS Group set a $25.00 price objective on Macy’s and gave the stock a “hold” rating in a research report on Friday, May 17th. SunTrust Banks reduced their price objective on Malibu Boats to $48.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Finally, Stephens set a $37.00 price objective on Talos Energy and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Kimbell Royalty Partners currently has a consensus rating of “Buy” and an average target price of $20.63.
Kimbell Royalty Partners Company Profile
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.
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