Kimbell Royalty (KRP) Given a $19.00 Price Target at Stifel Nicolaus
Kimbell Royalty (NYSE:KRP) has been assigned a $19.00 price target by analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 19.95% from the stock’s previous close.
A number of other research firms also recently weighed in on KRP. Zacks Investment Research raised shares of Kimbell Royalty from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Royal Bank Of Canada boosted their price target on shares of Kimbell Royalty from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 25th. Finally, Imperial Capital began coverage on shares of Kimbell Royalty in a research note on Tuesday. They set an “outperform” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $21.80.
Shares of Kimbell Royalty (NYSE KRP) traded up 0.06% during mid-day trading on Friday, reaching $15.84. 9,353 shares of the company were exchanged. Kimbell Royalty has a 12 month low of $15.06 and a 12 month high of $20.89. The stock’s market capitalization is $258.70 million. The firm has a 50-day moving average price of $16.08 and a 200 day moving average price of $18.27.
Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.06. The company had revenue of $7.75 million for the quarter, compared to analyst estimates of $7.87 million. Equities research analysts anticipate that Kimbell Royalty will post $0.27 EPS for the current fiscal year.
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In other news, Director William H. Adams III acquired 4,772 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average price of $15.87 per share, for a total transaction of $75,731.64. Following the completion of the acquisition, the director now owns 5,072 shares in the company, valued at $80,492.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mitch S. Wynne acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of $16.19 per share, with a total value of $32,380.00. Following the acquisition, the director now owns 22,637 shares of the company’s stock, valued at approximately $366,493.03. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 11,459 shares of company stock valued at $183,572.
A number of hedge funds and other institutional investors have recently modified their holdings of KRP. Lucas Capital Management purchased a new position in shares of Kimbell Royalty during the first quarter worth about $975,000. HITE Hedge Asset Management LLC purchased a new position in shares of Kimbell Royalty during the first quarter worth about $2,194,000. Stifel Financial Corp purchased a new position in shares of Kimbell Royalty during the first quarter worth about $241,000. Wellington Management Group LLP purchased a new position in shares of Kimbell Royalty during the first quarter worth about $13,766,000. Finally, FMR LLC purchased a new position in shares of Kimbell Royalty during the first quarter worth about $17,094,000. Hedge funds and other institutional investors own 20.48% of the company’s stock.
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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