Kimbell Royalty Partners, LP (NYSE:KRP) Shares Sold by Mill Road Capital Management LLC

Mill Road Capital Management LLC lessened its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,246,477 shares of the energy company’s stock after selling 244,903 shares during the period. Kimbell Royalty Partners comprises 9.5% of Mill Road Capital Management LLC’s holdings, making the stock its 2nd largest holding. Mill Road Capital Management LLC owned 1.31% of Kimbell Royalty Partners worth $20,056,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in Kimbell Royalty Partners by 1.2% in the first quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock valued at $927,000 after purchasing an additional 700 shares in the last quarter. Ridgemont Partners Management LLC bought a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $96,372,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Kimbell Royalty Partners during the 2nd quarter worth approximately $1,032,000. Accel Wealth Management bought a new position in Kimbell Royalty Partners in the second quarter valued at approximately $196,000. Finally, SG Americas Securities LLC acquired a new position in Kimbell Royalty Partners during the second quarter valued at approximately $1,227,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Partners Trading Down 0.4 %

NYSE KRP opened at $16.14 on Wednesday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. Kimbell Royalty Partners, LP has a twelve month low of $14.26 and a twelve month high of $17.07. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $16.14 and its 200 day moving average is $16.20.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm had revenue of $83.79 million for the quarter, compared to analyst estimates of $80.03 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, sell-side analysts expect that Kimbell Royalty Partners, LP will post 0.69 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 10.16%. The ex-dividend date of this dividend was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

Insider Activity

In other news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the transaction, the insider now directly owns 45,164 shares in the company, valued at $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KRP shares. Truist Financial decreased their price target on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. KeyCorp decreased their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty Partners currently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Kimbell Royalty Partners Company Profile