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

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat reports. One research 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 12-month price target among analysts that have covered the stock in the last year is $20.67.

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

Insider Activity

In related news, insider Blayne Rhynsburger sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the completion of the sale, the insider now owns 50,164 shares of the company’s stock, valued at approximately $788,076.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRP. Ridgemont Partners Management LLC purchased a new stake in Kimbell Royalty Partners in the 2nd quarter worth $96,372,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kimbell Royalty Partners by 189.5% in 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 Kimbell Royalty Partners during the 4th quarter worth $4,200,000. American Century Companies Inc. boosted its stake in Kimbell Royalty Partners by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock worth $24,673,000 after purchasing an additional 260,332 shares during the last quarter. Finally, Mill Road Capital Management LLC boosted its stake in Kimbell Royalty Partners by 14.8% during the 4th 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. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Performance

KRP opened at $16.30 on Friday. 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 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.56 billion, a PE ratio of 27.17, a P/E/G ratio of 1.63 and a beta of 1.13. The firm has a 50 day moving average of $15.83 and a two-hundred day moving average of $16.15.

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 analysts’ consensus estimates 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 business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same period in the prior year, the business posted $0.23 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Kimbell Royalty Partners will post 0.83 EPS 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 dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 10.31%. The ex-dividend date of this dividend was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is 280.00%.

Kimbell Royalty Partners Company Profile