Kimbell Royalty Partners (NYSE:KRP) Price Target Cut to $21.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective cut by research analysts at Truist Financial from $23.00 to $21.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Truist Financial’s price target would indicate a potential upside of 31.50% from the stock’s previous close.

Separately, Bank of America reissued an “underperform” rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kimbell Royalty Partners presently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Kimbell Royalty Partners Stock Up 0.5 %

Shares of KRP stock traded up $0.08 during trading on Monday, reaching $15.97. The company’s stock had a trading volume of 39,960 shares, compared to its average volume of 361,866. The business has a fifty day moving average price of $15.89 and a 200-day moving average price of $16.13. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. Kimbell Royalty Partners has a one year low of $14.26 and a one year high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The firm had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. Analysts anticipate that Kimbell Royalty Partners will post 0.83 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred 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 sale, the insider now directly owns 50,164 shares in the company, valued at approximately $788,076.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new position in shares of Kimbell Royalty Partners in the 2nd quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. increased its position in shares of 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. International Assets Investment Management LLC bought a new position in shares of Kimbell Royalty Partners in the second quarter worth approximately $99,000. Finally, Bridgewealth Advisory Group LLC bought a new position in shares of Kimbell Royalty Partners in the second quarter worth approximately $165,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile