Kimbell Royalty Partners, LP (NYSE:KRP) Given Consensus Rating of “Moderate Buy” by Analysts

Kimbell Royalty Partners, LP (NYSE:KRP) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.67.

A number of brokerages recently weighed in on KRP. Bank of America reiterated an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Truist Financial reduced their target price on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, September 30th.

Kimbell Royalty Partners Stock Performance

NYSE KRP opened at $16.33 on Friday. The company has a fifty day moving average of $15.82 and a two-hundred day moving average of $16.17. The company has a market capitalization of $1.56 billion, a PE ratio of 27.22, a P/E/G ratio of 1.63 and a beta of 1.13. Kimbell Royalty Partners has a 1 year low of $14.26 and a 1 year high of $17.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.68 and a quick ratio of 5.68.

Kimbell Royalty Partners (NYSE:KRP) last released 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). The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. As a group, analysts expect that Kimbell Royalty Partners will post 0.83 earnings per share for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 10.29%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners’s payout ratio is 280.00%.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 approximately $788,076.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ridgemont Partners Management LLC purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $96,372,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 worth $19,882,000 after acquiring an additional 899,322 shares in the last quarter. First Financial Bankshares Inc acquired a new stake in shares of Kimbell Royalty Partners in the 4th quarter worth approximately $4,200,000. American Century Companies Inc. increased its stake in Kimbell Royalty Partners by 20.9% in the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock valued at $24,673,000 after purchasing an additional 260,332 shares in the last quarter. Finally, Mill Road Capital Management LLC raised its holdings in Kimbell Royalty Partners by 14.8% during 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 during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Company Profile