Kimbell Royalty (NYSE:KRP) Receives Consensus Rating of “Buy” from Analysts
Shares of Kimbell Royalty (NYSE:KRP) have earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.75.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Kimbell Royalty from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada upped their target price on Kimbell Royalty from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 25th.
Shares of Kimbell Royalty (KRP) opened at 15.93 on Tuesday. The firm’s 50-day moving average is $16.09 and its 200-day moving average is $18.33. The stock’s market capitalization is $260.17 million. Kimbell Royalty has a one year low of $15.06 and a one year high of $20.89.
Kimbell Royalty (NYSE:KRP) last announced its earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The firm had revenue of $7.75 million during the quarter, compared to analyst estimates of $7.87 million. Equities research analysts forecast that Kimbell Royalty will post $0.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.53%. The ex-dividend date was Thursday, August 3rd.
In other news, Director William H. Adams III acquired 4,772 shares of Kimbell Royalty stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average cost of $15.87 per share, with a total value of $75,731.64. Following the purchase, the director now owns 5,072 shares in the company, valued at $80,492.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brett G. Taylor acquired 4,687 shares of Kimbell Royalty stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average cost of $16.10 per share, with a total value of $75,460.70. Following the completion of the purchase, the director now owns 23,646 shares in the company, valued at approximately $380,700.60. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 11,459 shares of company stock valued at $183,572.
A number of hedge funds and other institutional investors have recently bought and sold shares of KRP. King Luther Capital Management Corp purchased a new position in Kimbell Royalty during the first quarter valued at approximately $912,000. Morgan Stanley purchased a new position in Kimbell Royalty during the first quarter valued at approximately $4,907,000. Stifel Financial Corp purchased a new position in Kimbell Royalty during the first quarter valued at approximately $241,000. Wellington Management Group LLP purchased a new position in Kimbell Royalty during the first quarter valued at approximately $13,766,000. Finally, FMR LLC purchased a new position in Kimbell Royalty during the first quarter valued at approximately $17,094,000. 20.48% of the stock is owned by hedge funds and other institutional investors.
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About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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