Kimbell Royalty (NYSE:KRP) Sees Significant Growth in Short Interest

Kimbell Royalty (NYSE:KRP) saw a large increase in short interest in January. As of January 30th, there was short interest totaling 1,671,378 shares, an increase of 27.0% from the January 15th total of 1,315,684 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average trading volume of 637,103 shares, the days-to-cover ratio is currently 2.6 days. Based on an average trading volume of 637,103 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Kimbell Royalty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of Kimbell Royalty in the 2nd quarter worth approximately $56,000. State of Wyoming acquired a new position in shares of Kimbell Royalty in the third quarter valued at $62,000. EverSource Wealth Advisors LLC lifted its position in Kimbell Royalty by 29.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock worth $64,000 after purchasing an additional 1,250 shares during the period. Marex Group plc acquired a new stake in Kimbell Royalty during the fourth quarter worth $118,000. Finally, Sowell Financial Services LLC acquired a new stake in Kimbell Royalty during the fourth quarter worth $120,000. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Stock Performance

Kimbell Royalty stock traded down $0.11 during mid-day trading on Tuesday, reaching $13.97. The company had a trading volume of 574,898 shares, compared to its average volume of 554,043. The company has a quick ratio of 5.39, a current ratio of 5.39 and a debt-to-equity ratio of 0.72. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $16.14. The company has a 50 day moving average of $12.55 and a 200-day moving average of $13.14. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -199.57, a PEG ratio of 4.33 and a beta of 0.34.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research lowered Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Weiss Ratings upgraded shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Mizuho raised their target price on shares of Kimbell Royalty from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.80.

About Kimbell Royalty

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.