Brokerages Set Kimbell Royalty Partners, LP (NYSE:KRP) PT at $20.57

Kimbell Royalty Partners, LP (NYSE:KRP) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat.com 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 12-month price objective among analysts that have covered the stock in the last year is $20.67.

KRP has been the topic of several research reports. KeyCorp raised their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Bank of America reiterated an “underperform” rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. Finally, Truist Financial lowered their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, April 5th.

Kimbell Royalty Partners Price Performance

Shares of NYSE KRP opened at $16.58 on Friday. The stock’s 50-day simple moving average is $16.36 and its 200-day simple moving average is $15.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.48 and a current ratio of 8.48. The firm has a market capitalization of $1.58 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. Kimbell Royalty Partners has a fifty-two week low of $14.02 and a fifty-two week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.15). The company had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. Kimbell Royalty Partners had a return on equity of 5.74% and a net margin of 12.93%. The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. As a group, equities research analysts forecast that Kimbell Royalty Partners will post 0.79 EPS for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.82%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s dividend payout ratio is currently 326.67%.

Insider Transactions at Kimbell Royalty Partners

In related news, Director Brett G. Taylor sold 50,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $16.52, for a total transaction of $826,000.00. Following the transaction, the director now directly owns 249,030 shares in the company, valued at $4,113,975.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of hedge funds have recently made changes to their positions in the stock. Annandale Capital LLC raised its position in shares of Kimbell Royalty Partners by 8.1% in the 3rd quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock worth $181,000 after buying an additional 850 shares during the period. Barclays PLC raised its holdings in shares of Kimbell Royalty Partners by 13.2% in the 3rd quarter. Barclays PLC now owns 11,909 shares of the energy company’s stock worth $191,000 after purchasing an additional 1,386 shares during the period. Steward Partners Investment Solutions LLC acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at about $195,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kimbell Royalty Partners by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock worth $197,000 after purchasing an additional 1,379 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Kimbell Royalty Partners during the 3rd quarter worth about $198,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile