Analysts Set Kimbell Royalty Partners, LP (NYSE:KRP) Price Target at $20.57

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.67.

KRP has been the topic of several analyst reports. KeyCorp lifted their price objective on Kimbell Royalty Partners from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Truist Financial decreased their target price on Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Bank of America reiterated an “underperform” rating and issued a $16.00 target price on shares of Kimbell Royalty Partners in a research report on Friday, June 14th.

Kimbell Royalty Partners Stock Performance

Shares of NYSE:KRP opened at $16.36 on Friday. The company has a market cap of $1.56 billion, a P/E ratio of 27.27, a PEG ratio of 1.83 and a beta of 1.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.48 and a current ratio of 8.48. Kimbell Royalty Partners has a one year low of $14.02 and a one year high of $17.11. The business’s 50-day simple moving average is $16.34 and its 200 day simple moving average is $15.70.

Kimbell Royalty Partners (NYSE:KRP) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.15). The company had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. Kimbell Royalty Partners had a net margin of 12.93% and a return on equity of 5.74%. The business’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts forecast that Kimbell Royalty Partners will post 0.79 earnings per share for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.96 dividend on an annualized basis and a yield of 11.98%. This is a positive change from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. Kimbell Royalty Partners’s payout ratio is currently 326.67%.

Insider Activity at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 50,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $16.52, for a total transaction of $826,000.00. Following the completion of the transaction, the director now owns 249,030 shares in the company, valued at approximately $4,113,975.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

A number of hedge funds and other institutional investors have recently modified their holdings of KRP. Barclays PLC raised its stake in shares of Kimbell Royalty Partners by 13.2% in the 3rd quarter. Barclays PLC now owns 11,909 shares of the energy company’s stock worth $191,000 after buying an additional 1,386 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Kimbell Royalty Partners by 10.8% during the third quarter. HighTower Advisors LLC now owns 36,410 shares of the energy company’s stock worth $583,000 after purchasing an additional 3,560 shares during the period. Stifel Financial Corp raised its position in shares of Kimbell Royalty Partners by 46.7% during the third quarter. Stifel Financial Corp now owns 229,258 shares of the energy company’s stock worth $3,668,000 after purchasing an additional 73,029 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Kimbell Royalty Partners during the third quarter worth $1,199,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Kimbell Royalty Partners during the third quarter worth $198,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Company Profile