Kimbell Royalty Partners, LP (NYSE:KRP) Given Consensus Recommendation of “Buy” by Analysts

Shares of Kimbell Royalty Partners, LP (NYSE:KRPGet Rating) have been given an average rating of “Buy” by the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.25.

Several research analysts recently issued reports on KRP shares. Citigroup started coverage on shares of Kimbell Royalty Partners in a research note on Wednesday, August 24th. They set a “buy” rating and a $24.00 target price on the stock. TheStreet raised shares of Kimbell Royalty Partners from a “c+” rating to a “b” rating in a research note on Thursday, August 4th. Finally, KeyCorp started coverage on shares of Kimbell Royalty Partners in a research note on Monday. They set a “sector weight” rating on the stock.

Kimbell Royalty Partners Price Performance

Shares of Kimbell Royalty Partners stock opened at $17.59 on Friday. The company has a 50-day simple moving average of $17.43 and a two-hundred day simple moving average of $17.15. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.16 and a beta of 1.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. Kimbell Royalty Partners has a twelve month low of $12.68 and a twelve month high of $20.08.

Kimbell Royalty Partners (NYSE:KRPGet Rating) last posted its earnings results on Thursday, August 4th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. Kimbell Royalty Partners had a net margin of 41.55% and a return on equity of 25.19%. The firm had revenue of $72.71 million for the quarter, compared to analyst estimates of $60.36 million. Analysts forecast that Kimbell Royalty Partners will post 1.2 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.20 annualized dividend and a dividend yield of 12.51%. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.47. Kimbell Royalty Partners’s dividend payout ratio is currently 189.66%.

Insider Activity

In other news, Director Brett G. Taylor sold 29,100 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $17.52, for a total value of $509,832.00. Following the completion of the sale, the director now owns 612,593 shares in the company, valued at $10,732,629.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 2,500 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $17.73, for a total transaction of $44,325.00. Following the completion of the transaction, the insider now owns 46,616 shares in the company, valued at $826,501.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brett G. Taylor sold 29,100 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $17.52, for a total transaction of $509,832.00. Following the transaction, the director now owns 612,593 shares of the company’s stock, valued at approximately $10,732,629.36. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harrell Investment Partners LLC boosted its position in shares of Kimbell Royalty Partners by 2.5% in the first quarter. Harrell Investment Partners LLC now owns 28,071 shares of the energy company’s stock valued at $456,000 after acquiring an additional 682 shares during the period. US Bancorp DE raised its stake in Kimbell Royalty Partners by 14.3% in the second quarter. US Bancorp DE now owns 8,000 shares of the energy company’s stock valued at $125,000 after purchasing an additional 1,000 shares in the last quarter. Captrust Financial Advisors raised its stake in Kimbell Royalty Partners by 40.0% in the second quarter. Captrust Financial Advisors now owns 3,500 shares of the energy company’s stock valued at $55,000 after purchasing an additional 1,000 shares in the last quarter. Carson Advisory Inc. raised its stake in shares of Kimbell Royalty Partners by 2.5% during the first quarter. Carson Advisory Inc. now owns 52,022 shares of the energy company’s stock worth $846,000 after acquiring an additional 1,268 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Kimbell Royalty Partners by 2.3% during the first quarter. Royal Bank of Canada now owns 65,052 shares of the energy company’s stock worth $1,058,000 after acquiring an additional 1,482 shares in the last quarter. Institutional investors own 49.15% of the company’s stock.

Kimbell Royalty Partners Company Profile

(Get Rating)

Kimbell Royalty Partners, LP, together with its subsidiaries, acquires and owns mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2021, it owned mineral and royalty interests in approximately 11.4 million gross acres and overriding royalty interests in approximately 4.7 million gross acres.

See Also

Analyst Recommendations for Kimbell Royalty Partners (NYSE:KRP)

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