Truist Financial Cuts Kimbell Royalty Partners (NYSE:KRP) Price Target to $21.00

Kimbell Royalty Partners (NYSE:KRP) had its target price lowered by Truist Financial from $23.00 to $21.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Separately, Bank of America reiterated an underperform rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $20.67.

Kimbell Royalty Partners Trading Up 1.3 %

Shares of Kimbell Royalty Partners stock opened at $16.09 on Monday. The company’s 50-day moving average price is $15.89 and its 200-day moving average price is $16.13. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.63 and a beta of 1.13. The company has a current ratio of 5.68, a quick ratio of 5.68 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a 12-month low of $14.26 and a 12-month high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The business had revenue of $76.60 million for the quarter, compared to the consensus estimate of $81.19 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. On average, equities analysts expect that Kimbell Royalty Partners will post 0.83 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 10.44%. The ex-dividend date was Monday, August 12th. Kimbell Royalty Partners’s dividend payout ratio is presently 280.00%.

Insider Buying and Selling

In related news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now directly owns 50,164 shares in the company, valued at $788,076.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kimbell Royalty Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ridgemont Partners Management LLC acquired a new position in Kimbell Royalty Partners during the 2nd quarter worth about $96,372,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Kimbell Royalty Partners by 189.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,991 shares of the energy company’s stock valued at $19,882,000 after acquiring an additional 899,322 shares during the last quarter. First Financial Bankshares Inc acquired a new stake in shares of Kimbell Royalty Partners in the 4th quarter valued at about $4,200,000. American Century Companies Inc. boosted its position in shares of Kimbell Royalty Partners by 20.9% in the 2nd quarter. American Century Companies Inc. now owns 1,508,131 shares of the energy company’s stock valued at $24,673,000 after purchasing an additional 260,332 shares during the period. Finally, Mill Road Capital Management LLC lifted its position in Kimbell Royalty Partners by 14.8% during the 4th quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after acquiring an additional 243,761 shares during the period. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile