Kimbell Royalty Partners, LP (NYSE:KRP) Stock Holdings Trimmed by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC lowered its holdings in shares of Kimbell Royalty Partners, LP (NYSE:KRP) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 30,350 shares of the energy company’s stock after selling 1,000 shares during the period. Meridian Wealth Advisors LLC’s holdings in Kimbell Royalty Partners were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. LPL Financial LLC raised its stake in Kimbell Royalty Partners by 18.2% during the 4th quarter. LPL Financial LLC now owns 284,626 shares of the energy company’s stock valued at $4,619,000 after acquiring an additional 43,852 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at about $229,000. American Century Companies Inc. increased its holdings in shares of Kimbell Royalty Partners by 15.4% in the 4th quarter. American Century Companies Inc. now owns 2,208,353 shares of the energy company’s stock valued at $35,842,000 after purchasing an additional 294,789 shares during the period. Atlas Wealth LLC acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at about $162,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at about $211,000. Institutional investors own 25.78% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the transaction, the insider now directly owns 49,263 shares of the company’s stock, valued at $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.60% of the stock is owned by insiders.

Kimbell Royalty Partners Price Performance

Shares of NYSE:KRP opened at $14.05 on Friday. Kimbell Royalty Partners, LP has a fifty-two week low of $13.24 and a fifty-two week high of $17.07. The business has a 50-day moving average of $15.13 and a two-hundred day moving average of $15.67. The stock has a market capitalization of $1.50 billion, a P/E ratio of 27.55, a P/E/G ratio of 4.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.20 and a quick ratio of 5.20.

Kimbell Royalty Partners Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial downgraded Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research note on Monday, March 3rd. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Finally, Bank of America cut their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Kimbell Royalty Partners presently has an average rating of “Hold” and a consensus price target of $18.25.

Kimbell Royalty Partners Company Profile