Kimbell Royalty Partners LP (NYSE:KRP) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 20,200 shares, a decline of 40.8% from the May 30th total of 34,100 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 85,300 shares, the short-interest ratio is presently 0.2 days.
A number of research firms have commented on KRP. Credit Suisse Group reduced their price target on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, May 13th. UBS Group set a $25.00 price objective on shares of Macy’s and gave the stock a “hold” rating in a report on Friday, May 17th. Stifel Nicolaus set a $14.00 target price on shares of Roadrunner Transportation Systems and gave the stock a “hold” rating in a research note on Tuesday, May 28th. SunTrust Banks reduced their target price on shares of Malibu Boats to $48.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Finally, Stephens set a $37.00 price objective on shares of Talos Energy and gave the company a “buy” rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.63.
In other news, major shareholder Minerals & Royalties Haymaker sold 3,200,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $16.25, for a total transaction of $52,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. lifted its position in shares of Kimbell Royalty Partners by 1,025.2% during the fourth quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock worth $38,000 after purchasing an additional 2,563 shares during the last quarter. Meridian Wealth Advisors LLC grew its stake in shares of Kimbell Royalty Partners by 21.0% during the first quarter. Meridian Wealth Advisors LLC now owns 23,016 shares of the energy company’s stock worth $421,000 after acquiring an additional 4,000 shares during the last quarter. Trustcore Financial Services LLC lifted its holdings in shares of Kimbell Royalty Partners by 42.8% during the first quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock worth $293,000 after purchasing an additional 4,810 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Kimbell Royalty Partners by 21.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,280 shares of the energy company’s stock worth $398,000 after purchasing an additional 5,200 shares during the period. Finally, Barclays PLC acquired a new stake in shares of Kimbell Royalty Partners during the fourth quarter worth about $113,000. 64.37% of the stock is owned by hedge funds and other institutional investors.
Kimbell Royalty Partners stock traded up $0.06 during mid-day trading on Friday, reaching $15.83. The stock had a trading volume of 1,617 shares, compared to its average volume of 89,560. The company has a debt-to-equity ratio of 0.12, a current ratio of 8.07 and a quick ratio of 8.07. The firm has a market cap of $375.07 million, a P/E ratio of -79.45 and a beta of 1.48. The company’s 50-day moving average price is $16.37. Kimbell Royalty Partners has a one year low of $13.01 and a one year high of $24.50.
Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, May 9th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). Kimbell Royalty Partners had a positive return on equity of 1.02% and a negative net margin of 9.87%. The firm had revenue of $17.95 million during the quarter, compared to analysts’ expectations of $22.32 million. On average, analysts forecast that Kimbell Royalty Partners will post 0.14 EPS for the current year.
About Kimbell Royalty Partners
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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