Kimbell Royalty (KRP) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Kimbell Royalty (NYSE:KRP) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.83.
A number of research firms have recently commented on KRP. Imperial Capital began coverage on Kimbell Royalty in a report on Tuesday, August 15th. They issued an “outperform” rating and a $20.00 price objective on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 target price on shares of Kimbell Royalty in a research report on Monday, July 24th. Stephens reissued an “overweight” rating and issued a $22.00 target price (down from $24.00) on shares of Kimbell Royalty in a research report on Wednesday, August 23rd. Stifel Nicolaus set a $19.00 target price on Kimbell Royalty and gave the company a “buy” rating in a research report on Friday, August 18th. Finally, Zacks Investment Research raised Kimbell Royalty from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd.
Shares of Kimbell Royalty (NYSE:KRP) opened at 16.00 on Friday. The firm has a 50-day moving average price of $15.81 and a 200 day moving average price of $17.87. The firm’s market cap is $263.94 million. Kimbell Royalty has a one year low of $15.06 and a one year high of $20.89.
Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Thursday, August 10th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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. On average, analysts forecast that Kimbell Royalty will post $0.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.50%.
In other news, Director William H. Adams III bought 4,772 shares of the firm’s 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 transaction, the director now directly owns 5,072 shares in the company, valued at $80,492.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brett G. Taylor bought 4,687 shares of the firm’s 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 transaction, the director now owns 23,646 shares in the company, valued at $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.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new stake in Kimbell Royalty during the 2nd quarter worth approximately $164,000. Hollow Brook Wealth Management LLC acquired a new stake in Kimbell Royalty during the 2nd quarter worth approximately $210,000. Stifel Financial Corp acquired a new stake in Kimbell Royalty during the 1st quarter worth approximately $241,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Kimbell Royalty during the 2nd quarter worth approximately $312,000. Finally, King Luther Capital Management Corp lifted its position in Kimbell Royalty by 12.3% during the 2nd quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock worth $884,000 after acquiring an additional 5,765 shares during the period. 18.40% of the stock is owned by hedge funds and other institutional investors.
Kimbell Royalty Company Profile
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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