Kimbell Royalty Partners, LP (NYSE:KRP) Sees Large Growth in Short Interest

Kimbell Royalty Partners, LP (NYSE:KRP) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 982,000 shares, a growth of 39.3% from the February 13th total of 705,100 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 942,300 shares, the short-interest ratio is presently 1.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KRP. PNC Financial Services Group Inc. acquired a new position in shares of Kimbell Royalty Partners during the 4th quarter worth about $32,000. Parkside Financial Bank & Trust bought a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp boosted its stake in shares of 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 valued at $44,000 after buying an additional 2,028 shares during the period. Hilltop National Bank acquired a new stake in Kimbell Royalty Partners during the fourth quarter worth approximately $49,000. Finally, Brown Brothers Harriman & Co. bought a new position in Kimbell Royalty Partners during the 4th quarter worth $55,000. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Stock Up 2.2 %

NYSE:KRP traded up $0.31 during trading hours on Monday, reaching $14.30. 855,402 shares of the stock were exchanged, compared to its average volume of 519,038. The firm has a 50 day moving average of $15.30 and a 200 day moving average of $15.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20. The stock has a market cap of $1.53 billion, a PE ratio of 28.04, a PEG ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners has a twelve month low of $13.24 and a twelve month high of $17.07.

Kimbell Royalty Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.19%. Kimbell Royalty Partners’s dividend payout ratio is -1,454.55%.

Analysts Set New Price Targets

KRP has been the subject of a number of research analyst reports. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Bank of America cut their price objective 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. Finally, Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th.

About Kimbell Royalty Partners