Kimbell Royalty Partners, LP (NYSE:KRP) Shares Sold by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. trimmed its position in Kimbell Royalty Partners, LP (NYSE:KRP) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,054 shares of the energy company’s stock after selling 751 shares during the period. Kimbell Royalty Partners accounts for approximately 8.9% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its biggest holding. Pin Oak Investment Advisors Inc. owned about 0.64% of Kimbell Royalty Partners worth $9,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Kimbell Royalty Partners by 1,509.0% in the 3rd quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock valued at $1,573,000 after acquiring an additional 91,672 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $1,227,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $1,032,000. Oppenheimer & Co. Inc. grew its holdings in Kimbell Royalty Partners by 102.9% during the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock worth $1,429,000 after acquiring an additional 44,320 shares during the period. Finally, Raymond James & Associates raised its position in Kimbell Royalty Partners by 6.1% during the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock valued at $17,998,000 after acquiring an additional 64,678 shares in the last quarter. Institutional investors and hedge funds own 25.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. KeyCorp lowered their price objective on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Truist Financial lowered their price target on shares of 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 analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.40.

Kimbell Royalty Partners Trading Up 0.6 %

KRP stock opened at $16.00 on Thursday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 1.95 and a beta of 1.13. Kimbell Royalty Partners, LP has a 12-month low of $14.26 and a 12-month high of $17.07. The business’s 50-day moving average is $16.13 and its 200 day moving average is $16.21. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings data on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. Kimbell Royalty Partners’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, sell-side analysts anticipate that Kimbell Royalty Partners, LP will post 0.69 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.64 dividend on an annualized basis and a yield of 10.25%. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares in the company, valued at approximately $741,141.24. This trade represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is currently owned by corporate insiders.

About Kimbell Royalty Partners