Kimbell Royalty Partners (NYSE:KRP) Trading Up 10.3% Following Insider Buying Activity

Kimbell Royalty Partners LP (NYSE:KRP) traded up 10.3% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $5.41 and last traded at $5.35, 388,614 shares traded hands during trading. An increase of 14% from the average session volume of 339,511 shares. The stock had previously closed at $4.85.

Specifically, CFO Robert Davis Ravnaas bought 23,775 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $4.32 per share, with a total value of $102,708.00. Following the acquisition, the chief financial officer now owns 373,391 shares of the company’s stock, valued at approximately $1,613,049.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kkr Upstream Associates Llc sold 750,000 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $14.80, for a total transaction of $11,100,000.00. The disclosure for this sale can be found here. In the last three months, insiders bought 108,165 shares of company stock worth $481,967. Insiders own 14.20% of the company’s stock.

Several brokerages have issued reports on KRP. Raymond James reaffirmed a “strong-buy” rating and set a $20.00 price target (up previously from $19.00) on shares of Kimbell Royalty Partners in a research note on Tuesday, January 14th. KeyCorp started coverage on shares of Kimbell Royalty Partners in a research report on Wednesday, January 22nd. They set an “overweight” rating and a $18.00 price target on the stock. UBS Group increased their price target on shares of Kimbell Royalty Partners from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Imperial Capital decreased their price target on shares of Kimbell Royalty Partners from $19.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Finally, Zacks Investment Research cut shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.05.

The business’s fifty day simple moving average is $10.47 and its 200-day simple moving average is $13.92. The firm has a market cap of $332.86 million, a P/E ratio of -1.89 and a beta of 1.63. The company has a current ratio of 6.28, a quick ratio of 6.28 and a debt-to-equity ratio of 0.18.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Friday, February 28th. The energy company reported ($2.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($2.30). Kimbell Royalty Partners had a positive return on equity of 11.26% and a negative net margin of 73.49%. The business had revenue of $25.36 million during the quarter, compared to the consensus estimate of $28.73 million. Analysts anticipate that Kimbell Royalty Partners LP will post -0.02 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in KRP. Tower Research Capital LLC TRC purchased a new position in Kimbell Royalty Partners during the 4th quarter valued at $39,000. Guild Investment Management Inc. purchased a new stake in shares of Kimbell Royalty Partners in the 4th quarter worth about $170,000. California Public Employees Retirement System bought a new stake in shares of Kimbell Royalty Partners during the 4th quarter valued at about $192,000. B. Riley Wealth Management Inc. bought a new stake in shares of Kimbell Royalty Partners during the 4th quarter valued at about $297,000. Finally, Bank of America Corp DE increased its position in shares of Kimbell Royalty Partners by 61.3% during the fourth quarter. Bank of America Corp DE now owns 25,000 shares of the energy company’s stock valued at $425,000 after buying an additional 9,500 shares during the period. 23.97% of the stock is owned by institutional investors.

About Kimbell Royalty Partners (NYSE:KRP)

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.

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