Kimbell Royalty Partners, LP (NYSE:KRP) Receives Consensus Rating of “Buy” from Brokerages

Kimbell Royalty Partners, LP (NYSE:KRP) has been assigned an average rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.86.

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. KeyCorp reduced their price objective on shares of Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 11th. Raymond James cut their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, TD Securities dropped their price objective on shares of Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd.

Insider Activity at Kimbell Royalty Partners

In related news, Director Brett G. Taylor sold 22,326 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $15.59, for a total transaction of $348,062.34. Following the completion of the sale, the director now directly owns 380,210 shares of the company’s stock, valued at approximately $5,927,473.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 22,326 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $15.59, for a total transaction of $348,062.34. Following the completion of the transaction, the director now directly owns 380,210 shares of the company’s stock, valued at approximately $5,927,473.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Blayne Rhynsburger sold 6,487 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total transaction of $101,197.20. Following the transaction, the insider now directly owns 55,164 shares of the company’s stock, valued at $860,558.40. The disclosure for this sale can be found here. In the last three months, insiders sold 100,672 shares of company stock valued at $1,571,185. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KRP. Aptus Capital Advisors LLC bought a new position in shares of Kimbell Royalty Partners in the 3rd quarter worth about $2,280,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Kimbell Royalty Partners by 6.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 521,720 shares of the energy company’s stock worth $7,852,000 after buying an additional 31,106 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Kimbell Royalty Partners in the 3rd quarter worth about $1,199,000. Stifel Financial Corp lifted its position in shares of Kimbell Royalty Partners by 46.7% in the 3rd quarter. Stifel Financial Corp now owns 229,258 shares of the energy company’s stock worth $3,668,000 after buying an additional 73,029 shares during the last quarter. Finally, Barclays PLC lifted its position 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 buying an additional 1,386 shares during the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

Kimbell Royalty Partners Price Performance

Kimbell Royalty Partners stock opened at $15.95 on Friday. Kimbell Royalty Partners has a 12-month low of $14.02 and a 12-month high of $17.11. The stock has a market cap of $1.51 billion, a P/E ratio of 17.34 and a beta of 1.08. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $15.49.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Wednesday, February 21st. The energy company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.13). Kimbell Royalty Partners had a net margin of 20.45% and a return on equity of 8.98%. The business had revenue of $99.20 million during the quarter, compared to analysts’ expectations of $83.89 million. During the same period in the previous year, the company posted $0.48 earnings per share. Kimbell Royalty Partners’s quarterly revenue was up 44.4% on a year-over-year basis. Equities analysts expect that Kimbell Royalty Partners will post 0.79 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 13th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 10.78%. The ex-dividend date was Tuesday, March 12th. Kimbell Royalty Partners’s payout ratio is 186.96%.

Kimbell Royalty Partners Company Profile