Kimbell Royalty Partners, LP (NYSE:KRP) Given Consensus Rating of “Moderate Buy” by Brokerages

Posted by Ethan Ryder on Oct 6th, 2024

Shares of Kimbell Royalty Partners, LP (NYSE:KRP – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.67.

Several research analysts have recently weighed in on KRP shares. Truist Financial lowered their price target on shares of Kimbell Royalty Partners from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Bank of America reissued an “underperform” rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th.

Get Our Latest Analysis on Kimbell Royalty Partners

Kimbell Royalty Partners Trading Up 0.6 %

Shares of KRP opened at $16.30 on Friday. Kimbell Royalty Partners has a 52-week low of $14.26 and a 52-week high of $17.11. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $15.83 and its two-hundred day moving average is $16.15. The stock has a market cap of $1.56 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $76.60 million for the quarter, compared to analyst estimates of $81.19 million. Kimbell Royalty Partners had a net margin of 10.74% and a return on equity of 5.03%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. Research analysts forecast that Kimbell Royalty Partners will post 0.83 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a $0.42 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.68 dividend on an annualized basis and a yield of 10.31%. Kimbell Royalty Partners’s payout ratio is currently 280.00%.

Insider Buying and Selling at Kimbell Royalty Partners

In other Kimbell Royalty Partners news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total value of $78,550.00. Following the transaction, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC acquired a new position in Kimbell Royalty Partners in the second quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. increased its stake in Kimbell Royalty Partners by 98.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after purchasing an additional 1,484 shares during the period. International Assets Investment Management LLC purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $99,000. Finally, Bridgewealth Advisory Group LLC purchased a new stake in Kimbell Royalty Partners during the second quarter worth about $165,000. Institutional investors and hedge funds own 25.78% of the company’s stock.