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

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have earned an average recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $21.00.

KRP has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, April 5th. TD Securities dropped their target price on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. KeyCorp upped their price target on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Raymond James lowered their price objective on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th.

Kimbell Royalty Partners Trading Down 0.8 %

NYSE:KRP opened at $16.41 on Thursday. The company has a market capitalization of $1.55 billion, a PE ratio of 27.35 and a beta of 1.07. Kimbell Royalty Partners has a 52-week low of $14.02 and a 52-week high of $17.11. The stock’s 50 day moving average price is $15.82 and its 200 day moving average price is $15.49. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 5.68% and a net margin of 12.93%. The business had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. During the same quarter last year, the business posted $0.36 earnings per share. The business’s revenue was up 52.4% on a year-over-year basis. On average, research analysts anticipate that Kimbell Royalty Partners will post 0.91 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.49 dividend. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.96 annualized dividend and a yield of 11.94%. Kimbell Royalty Partners’s dividend payout ratio is presently 286.67%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.60, for a total value of $101,197.20. Following the completion of the transaction, the insider now directly owns 55,164 shares of the company’s stock, valued at $860,558.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 6,487 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total transaction of $101,197.20. Following the sale, the insider now directly owns 55,164 shares in the company, valued at $860,558.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brett G. Taylor sold 16,889 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $15.71, for a total value of $265,326.19. Following the completion of the transaction, the director now owns 326,193 shares of the company’s stock, valued at approximately $5,124,492.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,672 shares of company stock valued at $1,571,185. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Several hedge funds have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. purchased a new stake in shares of Kimbell Royalty Partners in the third quarter valued at $48,000. Annandale Capital LLC raised its stake in Kimbell Royalty Partners by 8.1% in the 3rd quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock valued at $181,000 after purchasing an additional 850 shares during the last quarter. Barclays PLC boosted its stake in shares of Kimbell Royalty Partners by 13.2% during the 3rd quarter. Barclays PLC now owns 11,909 shares of the energy company’s stock worth $191,000 after purchasing an additional 1,386 shares during the last quarter. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth about $195,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kimbell Royalty Partners by 11.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock worth $197,000 after buying an additional 1,379 shares in the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

About Kimbell Royalty Partners