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

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

Analyst Ratings Changes

Several equities analysts recently commented on KRP shares. Bank of America dropped their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd.

Kimbell Royalty Partners Stock Up 2.2 %

NYSE:KRP traded up $0.31 during mid-day trading on Monday, reaching $14.30. The stock had a trading volume of 855,402 shares, compared to its average volume of 519,038. 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 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. Kimbell Royalty Partners has a fifty-two week low of $13.24 and a fifty-two week high of $17.07. The business’s 50 day moving average is $15.30 and its 200 day moving average is $15.73.

Kimbell Royalty Partners Cuts Dividend

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

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRP. American Century Companies Inc. grew its stake in Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after buying an additional 294,789 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at about $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 purchasing an additional 82,499 shares during the period. King Luther Capital Management Corp lifted its position in shares of Kimbell Royalty Partners by 0.5% during the 4th quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock worth $7,192,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Orvieto Partners L.P. bought a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at approximately $6,103,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners