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

Shares of Kimbell Royalty Partners, LP (NYSE:KRPGet Rating) have earned a consensus rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.20.

KRP has been the topic of a number of analyst reports. Stephens initiated coverage on shares of Kimbell Royalty Partners in a report on Wednesday, April 13th. They issued an “overweight” rating and a $22.00 price objective on the stock. KeyCorp lifted their price target on shares of Kimbell Royalty Partners from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Zacks Investment Research upgraded shares of Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, April 13th. Raymond James lifted their price target on shares of Kimbell Royalty Partners from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. Finally, TheStreet lowered shares of Kimbell Royalty Partners from a “b” rating to a “c+” rating in a research note on Friday, May 6th.

In other Kimbell Royalty Partners news, major shareholder Pep I. Holdings, Llc sold 3,999,919 shares of the stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $15.04, for a total transaction of $60,158,781.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Blayne Rhynsburger sold 2,000 shares of the stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $15.45, for a total transaction of $30,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,015,608 shares of company stock valued at $60,411,170. 5.60% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Harrell Investment Partners LLC grew its holdings in Kimbell Royalty Partners by 2.5% during the first quarter. Harrell Investment Partners LLC now owns 28,071 shares of the energy company’s stock valued at $456,000 after purchasing an additional 682 shares during the last quarter. Carson Advisory Inc. increased its stake in shares of Kimbell Royalty Partners by 2.5% in the first quarter. Carson Advisory Inc. now owns 52,022 shares of the energy company’s stock valued at $846,000 after buying an additional 1,268 shares in the last quarter. Royal Bank of Canada increased its position in Kimbell Royalty Partners by 2.3% in the first quarter. Royal Bank of Canada now owns 65,052 shares of the energy company’s stock worth $1,058,000 after purchasing an additional 1,482 shares during the period. First Republic Investment Management Inc. increased its position in Kimbell Royalty Partners by 4.3% in the fourth quarter. First Republic Investment Management Inc. now owns 36,839 shares of the energy company’s stock worth $502,000 after purchasing an additional 1,512 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in Kimbell Royalty Partners in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 31.51% of the company’s stock.

Kimbell Royalty Partners stock opened at $19.50 on Thursday. The firm has a market cap of $1.26 billion, a PE ratio of 30.00 and a beta of 1.52. Kimbell Royalty Partners has a 52-week low of $10.00 and a 52-week high of $19.71. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $17.35 and its two-hundred day moving average is $15.67.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9th. Stockholders of record on Monday, May 2nd were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date of this dividend was Friday, April 29th. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.37. Kimbell Royalty Partners’s payout ratio is currently 289.23%.

Kimbell Royalty Partners Company Profile (Get Rating)

Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2021, it owned mineral and royalty interests in approximately 11.4 million gross acres and overriding royalty interests in approximately 4.7 million gross acres.

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