The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Kimbell Royalty Partners, LP shares valued at $421,298 were sold by Taylor Brett G. on Mar 19 ’24. At $15.51 per share, Taylor Brett G. sold 27,163 shares. The insider’s holdings dropped to 299,030 shares worth approximately $4.67 million following the completion of this transaction.
Also, Rhynsburger Blayne sold 6,487 shares, netting a total of over 101,197 in proceeds. Following the sale of shares at $15.60 each, the insider now holds 55,164 shares.
Before that, Taylor Brett G. had sold 16,889 shares from its account. In a trade valued at $265,326, the Director traded Kimbell Royalty Partners, LP shares for $15.71 each. Upon closing the transaction, the insider’s holdings decreased to 16,889 shares, worth approximately $5.1 million.
As published in their initiating research note from Truist on January 30, 2024, Kimbell Royalty Partners, LP [KRP] has been a Buy and the price target has been revised to $22. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in late October. As of March 07, 2023, KeyBanc Capital Markets has increased its “Sector weight” rating to a “an Overweight” for KRP. Earlier on September 20, 2022, KeyBanc Capital Markets initiated its rating. Their recommendation was “a Sector weight” for KRP stock.
Analyzing KRP Stock Performance
During the last five days, there has been a drop of approximately -2.01%. Over the course of the year, Kimbell Royalty Partners, LP shares have jumped approximately 3.85%. Shares of the company reached a 52-week high of $16.53 on 04/12/24 and a 52-week low of $14.26 on 01/17/24. A 50-day SMA is recorded $15.73, while a 200-day SMA reached $15.45. Nevertheless, trading volume fell to 0.31 million shares from 0.23 million shares the previous day.
Support And Resistance Levels for Kimbell Royalty Partners, LP (KRP)
According to the 24-hour chart, there is a support level at 15.47, which, if violated, would cause prices to drop to 15.31. In the upper region, resistance lies at 15.84. The next price resistance is at 16.05. RSI (Relative Strength Index) is 42.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 89.26%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
