In a recent transaction, Brett G. Taylor, a director at Kimbell Royalty Partners, LP (NYSE:KRP), sold 27,163 shares of the company's stock. The shares were sold at a weighted average price of $15.51, amounting to a total value of approximately $421,298.
According to the details provided, the sale took place on March 19, 2024, and was executed under a pre-arranged trading plan that Taylor had adopted on November 30, 2023. The shares sold ranged in price from $15.50 to $15.55, as disclosed in the footnotes of the filing.
The report indicates that the shares involved in this transaction were indirectly owned by Taylor through various entities. Specifically, the shares sold were owned by the Brett G. Taylor Royalty Trust, of which Taylor is the sole trustee and beneficiary. This information was detailed in the footnotes, which also explained the indirect ownership structure involving entities such as BGT Minerals, LLC, Kimbell GP Holdings, LLC, and BRD Royalty Holdings LLC, all of which Taylor is associated with as the sole member or through another entity.
Following the sale, Taylor still retains a significant stake in Kimbell Royalty Partners, LP, with direct and indirect holdings in the company. This transaction has been publicly disclosed as required by securities regulations, providing transparency to investors and the market.
InvestingPro Insights
In light of the recent stock sale by director Brett G. Taylor at Kimbell Royalty Partners, LP (NYSE:KRP), investors may be keen on understanding the company's current financial health and market performance. Here are some key metrics and InvestingPro Tips that can offer a deeper insight:
As of the last twelve months ending in Q4 2023, Kimbell Royalty Partners boasts an impressive gross profit margin of 92.56%, indicating a strong ability to control costs relative to revenue. This aligns with one of the InvestingPro Tips highlighting the company's impressive gross profit margins. Additionally, the company's operating income margin stands at 46.89%, reflecting efficient operational management.
Another notable InvestingPro Tip is the high shareholder yield, which is supported by a significant dividend yield of 11.0% as of the 80th day of 2024. This is particularly attractive to income-seeking investors, especially considering that Kimbell Royalty Partners has maintained dividend payments for 8 consecutive years.
InvestingPro Data further reveals a market capitalization of $1.48 billion USD and a P/E ratio of 16.85. While the company's revenue growth has seen a slight decline of 4.16% over the last twelve months, the quarterly revenue growth in Q4 2023 surged by 29.13%, suggesting a potential turnaround or positive business development during that period.
For investors interested in more detailed analysis and additional InvestingPro Tips, there are 14 more tips available on InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which could provide valuable insights for making informed investment decisions.
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