Truist Financial Forecasts Strong Price Appreciation for Kimbell Royalty Partners (NYSE:KRP) Stock

Kimbell Royalty Partners (NYSE:KRP) had its price objective increased by research analysts at Truist Financial from $21.00 to $22.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Truist Financial’s target price suggests a potential upside of 38.10% from the stock’s current price.

Separately, KeyCorp reduced their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty Partners presently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $15.93 on Monday. The firm’s 50 day moving average is $15.97 and its 200 day moving average is $16.07. The stock has a market capitalization of $1.52 billion, a P/E ratio of 31.24, a PEG ratio of 1.95 and a beta of 1.10. Kimbell Royalty Partners has a 12 month low of $14.26 and a 12 month high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, November 7th. The energy company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $83.79 million for the quarter, compared to the consensus estimate of $80.03 million. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, sell-side analysts anticipate that Kimbell Royalty Partners will post 0.69 earnings per share for the current year.

Insider Transactions at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of Kimbell Royalty Partners stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.41, for a total transaction of $82,050.00. Following the completion of the sale, the insider now directly owns 45,164 shares of the company’s stock, valued at approximately $741,141.24. The trade was a 9.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of large investors have recently added to or reduced their stakes in KRP. EverSource Wealth Advisors LLC bought a new position in shares of Kimbell Royalty Partners during the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in Kimbell Royalty Partners by 98.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after buying an additional 1,484 shares in the last quarter. Hilltop National Bank bought a new position in Kimbell Royalty Partners during the fourth quarter valued at approximately $49,000. Godsey & Gibb Inc. lifted its holdings in shares of Kimbell Royalty Partners by 62.9% in the 3rd quarter. Godsey & Gibb Inc. now owns 4,090 shares of the energy company’s stock worth $66,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Kimbell Royalty Partners in the 3rd quarter valued at $79,000. Hedge funds and other institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile