Kimbell Royalty Partners, LP (NYSE:KRP) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. grew its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,208,353 shares of the energy company’s stock after acquiring an additional 294,789 shares during the period. American Century Companies Inc. owned about 2.31% of Kimbell Royalty Partners worth $35,842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Kimbell Royalty Partners during the fourth quarter worth approximately $30,449,000. King Luther Capital Management Corp lifted its stake in Kimbell Royalty Partners by 0.5% during the fourth 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. U.S. Capital Wealth Advisors LLC increased its stake in Kimbell Royalty Partners by 38.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock valued at $4,334,000 after purchasing an additional 74,098 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Kimbell Royalty Partners by 3.3% during the third quarter. Stifel Financial Corp now owns 235,945 shares of the energy company’s stock worth $3,796,000 after purchasing an additional 7,626 shares during the period. Finally, Accordant Advisory Group Inc lifted its position in shares of Kimbell Royalty Partners by 10.3% in the 4th quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock worth $3,431,000 after buying an additional 19,716 shares during the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of 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 reissued a “market perform” rating on shares of Kimbell Royalty Partners in a report on Monday, March 3rd. Royal Bank of Canada upgraded Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Finally, Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $16.00 in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.25.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total transaction of $108,814.86. Following the transaction, the insider now directly owns 49,263 shares in the company, valued at approximately $682,785.18. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Kimbell Royalty Partners Stock Performance

Shares of NYSE KRP opened at $14.06 on Friday. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners, LP has a 12-month low of $13.24 and a 12-month high of $17.07. The stock has a 50 day simple moving average of $14.96 and a 200-day simple moving average of $15.63. The company has a market cap of $1.50 billion, a PE ratio of 27.56, a P/E/G ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.38%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s payout ratio is currently -1,454.55%.

About Kimbell Royalty Partners