Brokerages Set Kimbell Royalty Partners, LP (NYSE:KRP) Target Price at $21.00

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.00.

A number of brokerages have recently commented on KRP. KeyCorp lifted their price target on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Truist Financial raised their price objective on Kimbell Royalty Partners from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Bank of America reiterated an “underperform” rating and issued a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th.

Insiders Place Their Bets

In related news, insider Blayne Rhynsburger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now directly owns 50,164 shares of the company’s stock, valued at $788,076.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after purchasing an additional 1,484 shares during the last quarter. Algert Global LLC purchased a new position in shares of Kimbell Royalty Partners in the 2nd quarter worth $223,000. EverSource Wealth Advisors LLC bought a new stake in shares of Kimbell Royalty Partners in the 2nd quarter worth about $25,000. Bridgewealth Advisory Group LLC purchased a new stake in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $165,000. Finally, AE Wealth Management LLC bought a new position in shares of Kimbell Royalty Partners in the 2nd quarter valued at about $288,000. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Stock Performance

Shares of KRP opened at $16.01 on Friday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 1.41 and a beta of 1.13. The business’s fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $16.06. Kimbell Royalty Partners has a 12 month low of $14.26 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.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 4.91%. The business had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts anticipate that Kimbell Royalty Partners will post 1 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 dividend on an annualized basis and a yield of 10.49%. Kimbell Royalty Partners’s dividend payout ratio is presently 280.00%.

Kimbell Royalty Partners Company Profile