Mill Road Capital Management LLC Cuts Holdings in Kimbell Royalty Partners, LP (NYSE:KRP)

Mill Road Capital Management LLC cut its holdings in Kimbell Royalty Partners, LP (NYSE:KRP) by 16.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,246,477 shares of the energy company’s stock after selling 244,903 shares during the period. Kimbell Royalty Partners makes up approximately 9.5% of Mill Road Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Mill Road Capital Management LLC’s holdings in Kimbell Royalty Partners were worth $20,056,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaCore Capital LLC increased its stake in Kimbell Royalty Partners by 0.5% in the third quarter. AlphaCore Capital LLC now owns 147,789 shares of the energy company’s stock valued at $2,378,000 after purchasing an additional 675 shares in the last quarter. National Bank of Canada FI raised its stake in Kimbell Royalty Partners by 5.5% during the 2nd quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock worth $217,000 after buying an additional 685 shares during the period. California State Teachers Retirement System boosted its holdings in Kimbell Royalty Partners by 1.2% in the first quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock worth $927,000 after acquiring an additional 700 shares in the last quarter. Centaurus Financial Inc. grew its stake in Kimbell Royalty Partners by 4.7% in the second quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after acquiring an additional 823 shares during the period. Finally, Carson Advisory Inc. increased its holdings in shares of Kimbell Royalty Partners by 1.8% during the third quarter. Carson Advisory Inc. now owns 49,150 shares of the energy company’s stock valued at $791,000 after acquiring an additional 883 shares in the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the transaction, the insider now directly owns 45,164 shares of the company’s stock, valued at $741,141.24. This represents a 9.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.

Kimbell Royalty Partners Price Performance

KRP opened at $16.14 on Wednesday. Kimbell Royalty Partners, LP has a 1 year low of $14.26 and a 1 year high of $17.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.99 and a beta of 1.12. The firm’s fifty day moving average price is $16.14 and its two-hundred day moving average price is $16.20.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data 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 business had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. During the same period in the prior year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts anticipate that Kimbell Royalty Partners, LP will post 0.69 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 dividend on an annualized basis and a yield of 10.16%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 321.57%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KRP shares. Truist Financial reduced their price target on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research 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 analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty Partners has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Kimbell Royalty Partners Profile