Steward Partners Investment Advisory LLC Takes Position in Kimbell Royalty Partners LP (NYSE:KRP)

Steward Partners Investment Advisory LLC acquired a new stake in shares of Kimbell Royalty Partners LP (NYSE:KRP) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,050 shares of the energy company’s stock, valued at approximately $226,000. Steward Partners Investment Advisory LLC owned approximately 0.06% of Kimbell Royalty Partners as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. raised its position in shares of Kimbell Royalty Partners by 1,025.2% during the 4th quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock valued at $38,000 after buying an additional 2,563 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at $167,000. Trustcore Financial Services LLC grew its holdings in shares of Kimbell Royalty Partners by 42.8% during the 1st quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock valued at $293,000 after purchasing an additional 4,810 shares during the last quarter. Meridian Wealth Advisors LLC grew its holdings in shares of Kimbell Royalty Partners by 21.0% during the 1st quarter. Meridian Wealth Advisors LLC now owns 23,016 shares of the energy company’s stock valued at $421,000 after purchasing an additional 4,000 shares during the last quarter. Finally, First Republic Investment Management Inc. bought a new position in shares of Kimbell Royalty Partners during the 1st quarter valued at $581,000. Hedge funds and other institutional investors own 48.69% of the company’s stock.

Several equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Kimbell Royalty Partners in a report on Friday, May 17th. They set a “buy” rating and a $22.00 target price on the stock. Stephens set a $23.00 target price on shares of Kimbell Royalty Partners and gave the company a “buy” rating in a report on Wednesday, May 22nd. Credit Suisse Group raised shares of Kimbell Royalty Partners from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Monday, May 13th. Stifel Nicolaus lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their target price for the company from $19.00 to $18.00 in a report on Tuesday, May 28th. Finally, TheStreet lowered shares of Kimbell Royalty Partners from a “c” rating to a “d+” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.63.

Shares of Kimbell Royalty Partners stock opened at $14.58 on Wednesday. The company has a market cap of $336.50 million, a price-to-earnings ratio of -72.90 and a beta of 1.48. Kimbell Royalty Partners LP has a 12-month low of $13.01 and a 12-month high of $24.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.07 and a current ratio of 8.07. The stock has a fifty day moving average price of $15.68.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.45. The business had revenue of $31.94 million for the quarter, compared to analyst estimates of $27.75 million. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.96%. As a group, sell-side analysts expect that Kimbell Royalty Partners LP will post 0.1 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date of this dividend was Friday, August 2nd. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently -780.00%.

Kimbell Royalty Partners Profile

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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Institutional Ownership by Quarter for Kimbell Royalty Partners (NYSE:KRP)

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