Kimbell Royalty (NYSE:KRP) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Kimbell Royalty (NYSE:KRP) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several brokerages have recently weighed in on KRP. Weiss Ratings cut Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 14th. Citigroup upped their price objective on shares of Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. KeyCorp upgraded shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a report on Thursday, April 2nd. Finally, Royal Bank Of Canada initiated coverage on Kimbell Royalty in a research report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price objective for the company.

Kimbell Royalty Stock Up 0.2%

Shares of KRP opened at $15.16 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.12 and a current ratio of 5.12. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 32.97 and a beta of 0.29. Kimbell Royalty has a 52 week low of $11.31 and a 52 week high of $15.80. The stock has a fifty day moving average of $14.96 and a 200-day moving average of $14.36.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Thursday, May 7th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.19). Kimbell Royalty had a net margin of 22.76% and a return on equity of 11.70%. The firm had revenue of $65.54 million during the quarter, compared to analyst estimates of $90.25 million. During the same period in the prior year, the company earned $0.20 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kimbell Royalty will post 0.81 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date was Tuesday, May 19th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is currently 356.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KRP. Van ECK Associates Corp acquired a new stake in Kimbell Royalty in the fourth quarter worth $6,604,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Kimbell Royalty during the first quarter valued at about $7,405,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kimbell Royalty during the second quarter valued at about $5,445,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Kimbell Royalty by 32.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,210,948 shares of the energy company’s stock worth $14,241,000 after purchasing an additional 294,482 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Kimbell Royalty in the 3rd quarter valued at about $3,472,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Company Profile

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.