10,000 Shares in Kimbell Royalty Partners, LP (NYSE:KRP) Bought by Atlas Wealth LLC

Atlas Wealth LLC acquired a new stake in shares of Kimbell Royalty Partners, LP (NYSE:KRP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,000 shares of the energy company’s stock, valued at approximately $162,000.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on KRP. Truist Financial lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their price target for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America cut 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 report on Tuesday, March 4th. Raymond James reissued a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Finally, Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Kimbell Royalty Partners presently has a consensus rating of “Hold” and an average target price of $18.25.

Kimbell Royalty Partners Stock Down 1.0 %

Shares of Kimbell Royalty Partners stock opened at $14.05 on Friday. The company has a 50-day simple moving average of $15.13 and a two-hundred day simple moving average of $15.66. Kimbell Royalty Partners, LP has a 52-week low of $13.24 and a 52-week high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The stock has a market capitalization of $1.50 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Kimbell Royalty Partners Cuts Dividend

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

Insider Buying and Selling

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is owned by corporate insiders.

About Kimbell Royalty Partners