Kimbell Royalty (KRP) Given Average Rating of “Buy” by Analysts
Kimbell Royalty (NYSE:KRP) has earned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings 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 ratings on the stock in the last year is $21.33.
A number of analysts have recently commented on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $19.00 price objective on shares of Kimbell Royalty in a research note on Tuesday, November 7th. Zacks Investment Research downgraded Kimbell Royalty from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Imperial Capital assumed coverage on Kimbell Royalty in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $20.00 price objective on the stock. Stifel Nicolaus set a $19.00 price objective on Kimbell Royalty and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, Stephens reissued an “overweight” rating and issued a $22.00 price objective (down previously from $24.00) on shares of Kimbell Royalty in a research note on Wednesday, August 23rd.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Kimbell Royalty by 16.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,519 shares of the energy company’s stock worth $340,000 after acquiring an additional 2,968 shares during the last quarter. Lucas Capital Management grew its holdings in shares of Kimbell Royalty by 8.3% in the 2nd quarter. Lucas Capital Management now owns 54,131 shares of the energy company’s stock worth $911,000 after acquiring an additional 4,131 shares during the last quarter. King Luther Capital Management Corp grew its holdings in shares of Kimbell Royalty by 12.3% in 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 last quarter. Royal Bank of Canada acquired a new position in shares of Kimbell Royalty in the 2nd quarter worth $164,000. Finally, Signature Financial Management Inc. acquired a new position in shares of Kimbell Royalty in the 3rd quarter worth $185,000. Institutional investors and hedge funds own 22.09% of the company’s stock.
Shares of Kimbell Royalty (KRP) opened at $16.80 on Thursday. Kimbell Royalty has a 12 month low of $15.06 and a 12 month high of $20.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.23 and a current ratio of 5.23.
The business also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.38%. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, November 3rd.
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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