Kimbell Royalty Partners LP (NYSE:KRP) Sees Significant Increase in Short Interest

Share on StockTwits

Kimbell Royalty Partners LP (NYSE:KRP) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 34,100 shares, an increase of 36.9% from the May 15th total of 24,900 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 71,500 shares, the short-interest ratio is currently 0.5 days.

In other Kimbell Royalty Partners news, major shareholder Minerals & Royalties Haymaker sold 3,200,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $16.25, for a total value of $52,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 3,200,728 shares of company stock valued at $52,013,293. Company insiders own 14.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Raymond James & Associates increased its holdings in Kimbell Royalty Partners by 88.5% in the fourth quarter. Raymond James & Associates now owns 43,933 shares of the energy company’s stock valued at $597,000 after purchasing an additional 20,629 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Kimbell Royalty Partners by 21.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,280 shares of the energy company’s stock valued at $398,000 after purchasing an additional 5,200 shares during the period. Advisor Group Inc. increased its holdings in Kimbell Royalty Partners by 1,025.2% in the fourth quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock valued at $38,000 after purchasing an additional 2,563 shares during the period. Kayne Anderson Capital Advisors LP acquired a new stake in Kimbell Royalty Partners in the fourth quarter valued at $54,320,000. Finally, Lancaster Investment Management LLP acquired a new stake in Kimbell Royalty Partners in the fourth quarter valued at $6,583,000. Institutional investors own 64.37% of the company’s stock.

KRP has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Kimbell Royalty Partners from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 9th. Stifel Nicolaus set a $18.00 price objective on shares of Kimbell Royalty Partners and gave the company a “hold” rating in a research note on Friday, March 8th. Imperial Capital reiterated an “outperform” rating and issued a $20.00 price objective (up previously from $18.00) on shares of Kimbell Royalty Partners in a research note on Monday, March 11th. Stephens initiated coverage on shares of Kimbell Royalty Partners in a research note on Thursday, April 11th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Credit Suisse Group upgraded shares of Kimbell Royalty Partners from a “neutral” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Kimbell Royalty Partners currently has a consensus rating of “Buy” and a consensus price target of $20.63.

Shares of KRP stock traded up $0.17 during trading hours on Thursday, hitting $16.27. 48,300 shares of the company were exchanged, compared to its average volume of 57,222. The company’s fifty day moving average price is $16.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 8.07 and a quick ratio of 8.07. Kimbell Royalty Partners has a 52-week low of $13.01 and a 52-week high of $24.50. The firm has a market cap of $369.76 million, a PE ratio of -81.35 and a beta of 1.72.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly 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 company had revenue of $17.95 million for the quarter, compared to analysts’ expectations of $22.32 million. Research analysts forecast that Kimbell Royalty Partners will post 0.23 EPS for the current fiscal year.

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.

Recommended Story: How to execute a trade ex-dividend strategy?

Receive News & Ratings for Kimbell Royalty Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kimbell Royalty Partners and related companies with MarketBeat.com's FREE daily email newsletter.