Kimbell Royalty Partners, LP (NYSE:KRP) Sees Significant Increase in Short Interest

Kimbell Royalty Partners, LP (NYSE:KRP) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 982,000 shares, a growth of 39.3% from the February 13th total of 705,100 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 942,300 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of hedge funds have recently bought and sold shares of the business. AlphaCore Capital LLC grew its holdings in Kimbell Royalty Partners by 0.9% during the 4th quarter. AlphaCore Capital LLC now owns 149,139 shares of the energy company’s stock worth $2,421,000 after acquiring an additional 1,350 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Kimbell Royalty Partners by 760.0% during the fourth quarter. Sunbelt Securities Inc. now owns 6,450 shares of the energy company’s stock valued at $104,000 after buying an additional 5,700 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Kimbell Royalty Partners by 6.0% in the 4th quarter. Vident Advisory LLC now owns 30,815 shares of the energy company’s stock valued at $500,000 after acquiring an additional 1,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Kimbell Royalty Partners by 14.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 647,657 shares of the energy company’s stock worth $10,511,000 after acquiring an additional 82,499 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its stake in Kimbell Royalty Partners by 87.3% in the fourth quarter. Graham Capital Management L.P. now owns 47,037 shares of the energy company’s stock valued at $763,000 after buying an additional 21,923 shares during the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Trading Up 2.2 %

NYSE KRP opened at $14.30 on Tuesday. Kimbell Royalty Partners has a 52 week low of $13.24 and a 52 week high of $17.07. The stock has a market cap of $1.53 billion, a P/E ratio of 28.04, a PEG ratio of 4.25 and a beta of 1.01. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $15.30 and its 200-day simple moving average is $15.73.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.19%. The ex-dividend date of this dividend is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is -1,454.55%.

Kimbell Royalty Partners Company Profile