Kimbell Royalty Partners, LP (NYSE:KRP) Receives $20.50 Average Target Price from Brokerages

Posted by Defense World Staff on Nov 28th, 2024

Kimbell Royalty Partners, LP (NYSE:KRP – Get Free Report) has been given an average recommendation of “Moderate Buy” by the five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.40.

A number of brokerages have recently weighed in on KRP. KeyCorp cut their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Truist Financial dropped their price objective on Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, September 30th.

Check Out Our Latest Stock Report on Kimbell Royalty Partners

Kimbell Royalty Partners Price Performance

Shares of NYSE KRP opened at $16.00 on Monday. Kimbell Royalty Partners has a twelve month low of $14.26 and a twelve month high of $17.07. The stock’s 50 day moving average price is $16.13 and its 200-day moving average price is $16.21. The company has a market capitalization of $1.53 billion, a PE ratio of 31.18, a PEG ratio of 1.95 and a beta of 1.13. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last announced its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. On average, equities analysts anticipate that Kimbell Royalty Partners will post 0.69 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.41 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.64 annualized dividend and a yield of 10.25%. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the sale, the insider now owns 45,164 shares in the company, valued at $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of Kimbell Royalty Partners by 1,509.0% in the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock worth $1,573,000 after purchasing an additional 91,672 shares during the period. SG Americas Securities LLC bought a new position in shares of Kimbell Royalty Partners in the second quarter worth $1,227,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Kimbell Royalty Partners in the second quarter worth $1,032,000. Oppenheimer & Co. Inc. increased its holdings in shares of Kimbell Royalty Partners by 102.9% in the second quarter. Oppenheimer & Co. Inc. now owns 87,377 shares of the energy company’s stock worth $1,429,000 after purchasing an additional 44,320 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Kimbell Royalty Partners by 6.1% in the third quarter. Raymond James & Associates now owns 1,118,570 shares of the energy company’s stock worth $17,998,000 after purchasing an additional 64,678 shares during the period. Hedge funds and other institutional investors own 25.78% of the company’s stock.