Short Interest in Kimbell Royalty Partners, LP (NYSE:KRP) Expands By 36.5%

Kimbell Royalty Partners, LP (NYSE:KRP) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,340,000 shares, a growth of 36.5% from the February 28th total of 982,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 972,100 shares, the short-interest ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho began coverage on shares of Kimbell Royalty Partners in a research report on Monday. They set a “neutral” rating and a $16.00 target price for the company. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America reduced their price target on 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. Raymond James restated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Royal Bank of Canada raised shares of Kimbell Royalty Partners to a “moderate buy” rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.80.

Kimbell Royalty Partners Stock Up 1.3 %

Shares of KRP opened at $14.19 on Wednesday. The firm has a market cap of $1.52 billion, a P/E ratio of 27.81, a PEG ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners has a 12 month low of $13.24 and a 12 month high of $17.07. The stock’s 50 day moving average is $14.92 and its two-hundred day moving average is $15.62. 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 Cuts Dividend

The business also recently declared 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 11.28%. The ex-dividend date was Tuesday, March 18th. Kimbell Royalty Partners’s payout ratio is presently -1,454.55%.

Insider Transactions at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction that occurred on 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 directly owns 49,263 shares in the company, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of large investors have recently added to or reduced their stakes in KRP. American Century Companies Inc. increased its stake in shares of Kimbell Royalty Partners by 15.4% during the fourth quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock worth $35,842,000 after purchasing an additional 294,789 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Kimbell Royalty Partners during the fourth quarter valued at approximately $30,449,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $10,511,000 after acquiring an additional 82,499 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Kimbell Royalty Partners by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 443,119 shares of the energy company’s stock worth $7,192,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Orvieto Partners L.P. purchased a new stake in shares of Kimbell Royalty Partners during the fourth quarter worth approximately $6,103,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

About Kimbell Royalty Partners