Meridian Wealth Advisors LLC Cuts Position in Kimbell Royalty Partners, LP (NYSE:KRP)

Meridian Wealth Advisors LLC cut its stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 3.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 30,350 shares of the energy company’s stock after selling 1,000 shares during the period. Meridian Wealth Advisors LLC’s holdings in Kimbell Royalty Partners were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRP. Parkside Financial Bank & Trust acquired a new position in Kimbell Royalty Partners during the 4th quarter worth approximately $32,000. PNC Financial Services Group Inc. acquired a new position in Kimbell Royalty Partners during the 4th quarter worth approximately $32,000. Jones Financial Companies Lllp boosted its holdings in Kimbell Royalty Partners by 293.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock valued at $44,000 after purchasing an additional 2,028 shares during the last quarter. Hilltop National Bank purchased a new position in Kimbell Royalty Partners in the fourth quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Kimbell Royalty Partners by 166.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,000 shares of the energy company’s stock valued at $65,000 after purchasing an additional 2,500 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Price Performance

Shares of NYSE:KRP opened at $14.05 on Friday. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a fifty-two week low of $13.24 and a fifty-two week high of $17.07. The firm has a 50-day simple moving average of $15.13 and a 200 day simple moving average of $15.67. The company has a market cap of $1.50 billion, a PE ratio of 27.55, a P/E/G ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.39%. The ex-dividend date is Tuesday, March 18th. Kimbell Royalty Partners’s dividend payout ratio is presently -1,454.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KRP. Truist Financial downgraded 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 report on Tuesday, March 4th. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Finally, Bank of America decreased their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.25.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the completion of the sale, the insider now owns 49,263 shares of the company’s stock, valued at $682,785.18. This represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

About Kimbell Royalty Partners