Kimbell Royalty (KRP) Receives Consensus Rating of “Buy” from Brokerages
Shares of Kimbell Royalty (NYSE:KRP) have received a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $21.83.
KRP has been the topic of several research analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 price target on shares of Kimbell Royalty in a research report on Monday, July 24th. Imperial Capital initiated coverage on shares of Kimbell Royalty in a research report on Tuesday, August 15th. They set an “outperform” rating and a $20.00 price target on the stock. Stifel Nicolaus set a $19.00 price target on shares of Kimbell Royalty and gave the company a “buy” rating in a research report on Friday, August 18th. Stephens reiterated an “overweight” rating and set a $22.00 price target (down previously from $24.00) on shares of Kimbell Royalty in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research cut shares of Kimbell Royalty from a “hold” rating to a “sell” rating in a research report on Friday.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in Kimbell Royalty by 7.2% in the second quarter. FMR LLC now owns 940,182 shares of the energy company’s stock worth $15,823,000 after purchasing an additional 63,550 shares during the period. Wellington Management Group LLP purchased a new stake in Kimbell Royalty in the first quarter worth about $13,766,000. Morgan Stanley purchased a new stake in Kimbell Royalty in the first quarter worth about $4,907,000. Wells Fargo & Company MN grew its holdings in Kimbell Royalty by 14.7% in the second quarter. Wells Fargo & Company MN now owns 250,339 shares of the energy company’s stock worth $4,213,000 after purchasing an additional 32,000 shares during the period. Finally, Lucas Capital Management grew its holdings in Kimbell Royalty by 8.3% in the second quarter. Lucas Capital Management now owns 54,131 shares of the energy company’s stock worth $911,000 after purchasing an additional 4,131 shares during the period. Institutional investors and hedge funds own 18.40% of the company’s stock.
Shares of Kimbell Royalty (NYSE:KRP) opened at 16.39 on Friday. Kimbell Royalty has a 52 week low of $15.06 and a 52 week high of $20.89. The stock has a 50 day moving average price of $16.20 and a 200 day moving average price of $17.03. The firm’s market capitalization is $270.37 million.
Kimbell Royalty (NYSE:KRP) last announced its quarterly earnings results on Thursday, August 10th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The company had revenue of $7.75 million for the quarter, compared to the consensus estimate of $7.87 million. Analysts forecast that Kimbell Royalty will post $0.18 EPS for the current year.
The business also recently declared a dividend, which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 3rd.
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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