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 $78,550 were sold by Rhynsburger Blayne on Aug 14 ’24. At $15.71 per share, Rhynsburger Blayne sold 5,000 shares. The insider’s holdings dropped to 50,164 shares worth approximately $0.84 million following the completion of this transaction.
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Also, Wynne Mitch S. sold 27,539 shares, netting a total of over 445,030 in proceeds. Following the sale of shares at $16.16 each, the insider now holds 0 shares.
Before that, Taylor Brett G. had sold 50,000 shares from its account. In a trade valued at $826,000, the Director traded Kimbell Royalty Partners LP shares for $16.52 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $4.19 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 surge of approximately 4.86%. Over the course of the year, Kimbell Royalty Partners LP shares have jumped approximately 11.83%. Shares of the company reached a 52-week high of $17.07 on 07/15/24 and a 52-week low of $14.26 on 01/17/24. A 50-day SMA is recorded $15.95, while a 200-day SMA reached $15.99. Nevertheless, trading volume fell to 0.58 million shares from 0.74 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 16.36, which, if violated, would cause prices to drop to 15.90. In the upper region, resistance lies at 17.14. The next price resistance is at 17.46. RSI (Relative Strength Index) is 70.35 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.28, which suggests the price will decrease in the coming days. Percent R is at 13.45%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
