Kimbell Royalty Partners, LP (NYSE:KRP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Kimbell Royalty Partners, LP (NYSE:KRP) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.57.

A number of brokerages have issued reports on KRP. KeyCorp upped their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Bank of America restated an “underperform” rating and set a $16.00 price objective on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. Finally, Truist Financial reduced their price target on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, April 5th.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock opened at $16.33 on Friday. Kimbell Royalty Partners has a 12 month low of $14.02 and a 12 month high of $17.11. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $16.33 and a 200 day moving average of $15.67. The firm has a market cap of $1.56 billion, a PE ratio of 27.21, a PEG ratio of 1.83 and a beta of 1.10.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.74%. The company had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, research analysts expect that Kimbell Royalty Partners will post 0.79 EPS for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 12.01%. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 10th. Kimbell Royalty Partners’s dividend payout ratio is presently 326.67%.

Insider Buying and Selling

In related news, Director Brett G. Taylor sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $16.52, for a total value of $826,000.00. Following the transaction, the director now owns 249,030 shares of the company’s stock, valued at $4,113,975.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mill Road Capital Management LLC grew its stake in Kimbell Royalty Partners by 14.8% in the fourth quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after purchasing an additional 243,761 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Kimbell Royalty Partners by 189.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after acquiring an additional 899,322 shares in the last quarter. Raymond James & Associates boosted its position in Kimbell Royalty Partners by 1.7% during the 1st quarter. Raymond James & Associates now owns 1,036,263 shares of the energy company’s stock valued at $16,083,000 after acquiring an additional 17,474 shares in the last quarter. American Century Companies Inc. boosted its position in Kimbell Royalty Partners by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 743,562 shares of the energy company’s stock valued at $11,897,000 after acquiring an additional 94,340 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Kimbell Royalty Partners by 4.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 546,876 shares of the energy company’s stock valued at $8,488,000 after acquiring an additional 25,156 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile