Kimbell Royalty Partners (NYSE:KRP) Stock Price Up 10.3% After Insider Buying Activity

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Shares of Kimbell Royalty Partners LP (NYSE:KRP) rose 10.3% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $5.41 and last traded at $5.35, approximately 388,614 shares traded hands during mid-day trading. An increase of 14% from the average daily volume of 339,511 shares. The stock had previously closed at $4.85.

Specifically, CEO Robert D. Ravnaas bought 39,390 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were bought at an average price of $4.74 per share, with a total value of $186,708.60. Following the completion of the transaction, the chief executive officer now directly owns 593,966 shares of the company’s stock, valued at approximately $2,815,398.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Davis Ravnaas bought 23,775 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of $4.32 per share, for a total transaction of $102,708.00. Following the transaction, the chief financial officer now directly owns 373,391 shares of the company’s stock, valued at $1,613,049.12. The disclosure for this purchase can be found here. Insiders purchased 99,165 shares of company stock valued at $440,967 in the last three months. 14.20% of the stock is currently owned by insiders.

A number of research analysts have commented on the stock. Credit Suisse Group reaffirmed an “outperform” rating on shares of Kimbell Royalty Partners in a research report on Thursday, March 19th. 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. Imperial Capital reduced 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. 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. Finally, UBS Group raised their target price on shares of Kimbell Royalty Partners from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kimbell Royalty Partners presently has a consensus rating of “Buy” and a consensus price target of $18.05.

The company has a market capitalization of $208.73 million, a PE ratio of -1.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.28 and a quick ratio of 6.28. The company’s 50 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 results on Friday, February 28th. The energy company reported ($2.27) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($2.30). The company had revenue of $25.36 million during the quarter, compared to analysts’ expectations of $28.73 million. Kimbell Royalty Partners had a negative net margin of 73.49% and a positive return on equity of 11.26%. On average, equities analysts forecast that Kimbell Royalty Partners LP will post -0.02 EPS for the current year.

A number of institutional investors have recently made changes to their positions in KRP. Tower Research Capital LLC TRC purchased a new position in shares of Kimbell Royalty Partners during the fourth quarter worth approximately $39,000. Arrow Investment Advisors LLC grew its position in shares of Kimbell Royalty Partners by 11.2% during the fourth quarter. Arrow Investment Advisors LLC now owns 30,383 shares of the energy company’s stock worth $517,000 after acquiring an additional 3,065 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Kimbell Royalty Partners by 15.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,526 shares of the energy company’s stock worth $553,000 after acquiring an additional 4,446 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its position in shares of Kimbell Royalty Partners by 5.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 164,580 shares of the energy company’s stock worth $2,798,000 after acquiring an additional 8,075 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Kimbell Royalty Partners by 61.3% in the 4th quarter. Bank of America Corp DE now owns 25,000 shares of the energy company’s stock valued at $425,000 after buying an additional 9,500 shares during the last quarter. Institutional investors own 23.97% of the company’s stock.

About Kimbell Royalty Partners (NYSE:KRP)

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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