Kimbell Royalty Partners LP (NYSE:KRP) CEO Robert D. Ravnaas Purchases 39,390 Shares

Kimbell Royalty Partners LP (NYSE:KRP) CEO Robert D. Ravnaas acquired 39,390 shares of Kimbell Royalty Partners stock in a transaction that occurred on Tuesday, March 24th. The stock was acquired at an average cost of $4.74 per share, for a total transaction of $186,708.60. Following the purchase, the chief executive officer now owns 593,966 shares of the company’s stock, valued at $2,815,398.84. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

KRP stock opened at $4.85 on Wednesday. The firm has a market cap of $208.73 million, a price-to-earnings ratio of -1.29 and a beta of 1.63. The company has a quick ratio of 6.28, a current ratio of 6.28 and a debt-to-equity ratio of 0.18. Kimbell Royalty Partners LP has a 12-month low of $3.51 and a 12-month high of $18.79. The company’s fifty day simple moving average is $10.64 and its 200 day simple moving average is $13.97.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Friday, February 28th. The energy company reported ($2.27) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($2.30). Kimbell Royalty Partners had a negative net margin of 73.49% and a positive return on equity of 11.26%. The company had revenue of $25.36 million for the quarter, compared to analyst estimates of $28.73 million. Research analysts expect that Kimbell Royalty Partners LP will post -0.02 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Kimbell Royalty Partners by 2.8% during the fourth quarter. FMR LLC now owns 1,415,432 shares of the energy company’s stock valued at $24,062,000 after purchasing an additional 38,459 shares during the period. Raymond James & Associates raised its holdings in shares of Kimbell Royalty Partners by 5.8% during the fourth quarter. Raymond James & Associates now owns 340,403 shares of the energy company’s stock valued at $5,787,000 after purchasing an additional 18,710 shares during the period. Soros Fund Management LLC raised its holdings in shares of Kimbell Royalty Partners by 5.0% during the third quarter. Soros Fund Management LLC now owns 320,080 shares of the energy company’s stock valued at $4,708,000 after purchasing an additional 15,304 shares during the period. TSP Capital Management Group LLC raised its holdings in shares of Kimbell Royalty Partners by 105.0% during the fourth quarter. TSP Capital Management Group LLC now owns 214,566 shares of the energy company’s stock valued at $3,648,000 after purchasing an additional 109,900 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Kimbell Royalty Partners by 37.7% during the fourth quarter. Blair William & Co. IL now owns 193,336 shares of the energy company’s stock valued at $3,287,000 after purchasing an additional 52,894 shares during the period. Hedge funds and other institutional investors own 23.97% of the company’s stock.

Several equities analysts recently issued reports on KRP shares. Stifel Nicolaus started coverage on shares of Kimbell Royalty Partners in a report on Wednesday, January 8th. They issued a “buy” rating and a $21.00 target price on the stock. Royal Bank of Canada restated a “buy” rating and issued a $13.00 target price on shares of Kimbell Royalty Partners in a report on Wednesday, March 18th. KeyCorp started coverage on shares of Kimbell Royalty Partners in a report on Wednesday, January 22nd. They issued an “overweight” rating and a $18.00 target price on the stock. Zacks Investment Research lowered shares of Kimbell Royalty Partners from a “buy” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, Imperial Capital dropped their target price on shares of Kimbell Royalty Partners from $19.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Kimbell Royalty Partners currently has an average rating of “Buy” and a consensus target price of $18.05.

Kimbell Royalty Partners Company 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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