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

Kimbell Royalty Partners, LP (NYSE:KRP) saw 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.

Wall Street Analyst Weigh In

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

Insider Activity at Kimbell Royalty Partners

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

Institutional Investors Weigh In On Kimbell Royalty Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI increased its holdings in Kimbell Royalty Partners by 5.5% in the 2nd quarter. National Bank of Canada FI now owns 13,138 shares of the energy company’s stock valued at $217,000 after purchasing an additional 685 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Kimbell Royalty Partners by 1.2% in the first quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock valued at $927,000 after buying an additional 700 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Kimbell Royalty Partners by 4.7% in the 2nd quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after buying an additional 823 shares during the period. Raymond James Trust N.A. lifted its stake in Kimbell Royalty Partners by 6.6% during the 2nd quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock worth $257,000 after acquiring an additional 974 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Kimbell Royalty Partners by 98.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after acquiring an additional 1,484 shares in the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Trading Up 0.1 %

Kimbell Royalty Partners stock traded up $0.02 during mid-day trading on Thursday, hitting $16.06. The company’s stock had a trading volume of 237,103 shares, compared to its average volume of 364,342. Kimbell Royalty Partners has a 1 year low of $14.26 and a 1 year high of $17.11. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.53 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.86 and a beta of 1.13. The stock’s fifty day moving average is $15.91 and its two-hundred day moving average is $16.19.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company had revenue of $76.60 million during the quarter, compared to analyst estimates of $81.19 million. During the same period in the previous year, the company earned $0.23 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Kimbell Royalty Partners will post 0.74 EPS for the current year.

Kimbell Royalty Partners Company Profile