Kimbell Royalty Partners, LP (NYSE:KRP) Short Interest Up 7.3% in October

by · The Markets Daily

Kimbell Royalty Partners, LP (NYSE:KRP – Get Free Report) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,200,000 shares, a growth of 7.3% from the September 30th total of 2,050,000 shares. Based on an average daily volume of 394,600 shares, the short-interest ratio is currently 5.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KRP shares. KeyCorp reduced their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial cut their price target on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Check Out Our Latest Report on Kimbell Royalty Partners

Kimbell Royalty Partners Stock Up 0.1 %

NYSE KRP traded up $0.02 on Thursday, hitting $16.06. The stock had a trading volume of 237,103 shares, compared to its average volume of 364,342. The business’s fifty day moving average price is $15.91 and its 200 day moving average price is $16.19. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.68 and a quick ratio of 5.68. Kimbell Royalty Partners has a 52-week low of $14.26 and a 52-week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last announced its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Kimbell Royalty Partners will post 0.74 earnings per share for the current year.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the transaction, the insider now owns 50,164 shares in the company, valued at approximately $788,076.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of large investors have recently modified their holdings of KRP. Ridgemont Partners Management LLC acquired a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at $96,372,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kimbell Royalty Partners by 189.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock worth $19,882,000 after purchasing an additional 899,322 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Kimbell Royalty Partners by 20.9% during the second quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after purchasing an additional 260,332 shares during the period. International Assets Investment Management LLC boosted its position in Kimbell Royalty Partners by 1,509.0% in the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock valued at $1,573,000 after buying an additional 91,672 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Kimbell Royalty Partners in the second quarter valued at approximately $1,227,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile

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