Kimbell Royalty Partners, LP (NYSE:KRP) Shares Purchased by Accordant Advisory Group Inc

Accordant Advisory Group Inc grew its position in Kimbell Royalty Partners, LP (NYSE:KRP) by 10.3% during the fourth quarter, HoldingsChannel reports. The firm owned 211,422 shares of the energy company’s stock after buying an additional 19,716 shares during the period. Kimbell Royalty Partners comprises approximately 3.3% of Accordant Advisory Group Inc’s portfolio, making the stock its 9th largest holding. Accordant Advisory Group Inc’s holdings in Kimbell Royalty Partners were worth $3,431,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KRP. Algert Global LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth approximately $223,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kimbell Royalty Partners by 98.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock valued at $49,000 after buying an additional 1,484 shares during the last quarter. Centaurus Financial Inc. boosted its position in Kimbell Royalty Partners by 4.7% during the 2nd quarter. Centaurus Financial Inc. now owns 18,315 shares of the energy company’s stock valued at $300,000 after acquiring an additional 823 shares in the last quarter. Mirador Capital Partners LP lifted its holdings in shares of Kimbell Royalty Partners by 6.5% during the third quarter. Mirador Capital Partners LP now owns 52,877 shares of the energy company’s stock valued at $851,000 after purchasing an additional 3,226 shares during the last quarter. Finally, Howard Financial Services LTD. purchased a new position in shares of Kimbell Royalty Partners during the third quarter valued at approximately $205,000. 25.78% of the stock is owned by institutional investors.

Insider Activity at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now owns 45,164 shares in the company, valued at $741,141.24. This represents a 9.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. KeyCorp cut their price target on 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. Raymond James lifted their price target on shares of Kimbell Royalty Partners from $19.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Truist Financial lifted their price target on shares of Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.20.

Kimbell Royalty Partners Trading Up 0.9 %

Shares of NYSE:KRP opened at $15.65 on Wednesday. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $15.87 and its two-hundred day moving average is $16.00. The company has a market cap of $1.49 billion, a PE ratio of 30.68, a P/E/G ratio of 8.13 and a beta of 1.10. Kimbell Royalty Partners, LP has a 52 week low of $14.57 and a 52 week high of $17.07.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $83.79 million during the quarter, compared to analysts’ expectations of $80.03 million. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities analysts predict that Kimbell Royalty Partners, LP will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.41 per share. The ex-dividend date was Monday, November 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.48%. Kimbell Royalty Partners’s payout ratio is currently 321.57%.

About Kimbell Royalty Partners