Kimbell Royalty Partners, LP (NYSE:KRP) Receives Average Rating of “Hold” from Analysts

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.80.

KRP has been the subject of a number of recent research reports. Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th. Raymond James reaffirmed a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Mizuho initiated coverage on shares of Kimbell Royalty Partners in a research report on Monday. They set a “neutral” rating and a $16.00 price target on the stock. Truist Financial lowered Kimbell Royalty Partners from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Tuesday, March 4th. Finally, Bank of America reduced their price target on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, March 4th.

Insider Buying and Selling

In other news, insider Blayne Rhynsburger sold 7,851 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the transaction, the insider now owns 49,263 shares of the company’s stock, valued at approximately $682,785.18. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Institutional Trading of Kimbell Royalty Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in shares of Kimbell Royalty Partners in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust acquired a new stake in shares of Kimbell Royalty Partners during the 4th quarter worth $32,000. Jones Financial Companies Lllp increased its position in shares of Kimbell Royalty Partners by 293.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,719 shares of the energy company’s stock worth $44,000 after purchasing an additional 2,028 shares during the period. Hilltop National Bank bought a new position in Kimbell Royalty Partners in the 4th quarter valued at about $49,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Kimbell Royalty Partners in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Partners Trading Down 0.4 %

KRP stock traded down $0.06 during midday trading on Monday, hitting $14.01. 175,543 shares of the company’s stock were exchanged, compared to its average volume of 549,161. The company has a market cap of $1.50 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01. Kimbell Royalty Partners has a one year low of $13.24 and a one year high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The stock’s fifty day moving average price is $14.96 and its 200-day moving average price is $15.63.

Kimbell Royalty Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 18th were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 annualized dividend and a yield of 11.42%. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently -1,454.55%.

About Kimbell Royalty Partners