Kimbell Royalty Partners (NYSE:KRP) Price Target Raised to $23.00

Kimbell Royalty Partners (NYSE:KRP) had its target price lifted by Raymond James from $19.00 to $23.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the energy company’s stock.

KRP has been the topic of several other research reports. Truist Financial boosted their price target on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, January 13th. KeyCorp dropped their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.20.

Kimbell Royalty Partners Trading Down 0.6 %

KRP opened at $15.88 on Thursday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 8.13 and a beta of 1.10. Kimbell Royalty Partners has a 52 week low of $14.57 and a 52 week high of $17.07. The business’s 50 day moving average is $15.89 and its two-hundred day moving average is $16.02. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings results on Thursday, November 7th. The energy company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Kimbell Royalty Partners had a net margin of 11.33% and a return on equity of 5.82%. The firm had revenue of $83.79 million during the quarter, compared to the consensus estimate of $80.03 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Kimbell Royalty Partners’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, research analysts predict that Kimbell Royalty Partners will post 0.65 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 10.33%. The ex-dividend date was Monday, November 18th. Kimbell Royalty Partners’s payout ratio is 321.57%.

Insider Transactions at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.41, for a total transaction of $82,050.00. Following the transaction, the insider now owns 45,164 shares of the company’s stock, valued at $741,141.24. This represents a 9.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kimbell Royalty Partners

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of Kimbell Royalty Partners by 1,509.0% in the third quarter. International Assets Investment Management LLC now owns 97,747 shares of the energy company’s stock valued at $1,573,000 after purchasing an additional 91,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kimbell Royalty Partners by 11.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after acquiring an additional 10,176 shares during the period. HighTower Advisors LLC boosted its stake in shares of Kimbell Royalty Partners by 42.6% during the 3rd quarter. HighTower Advisors LLC now owns 21,423 shares of the energy company’s stock worth $345,000 after acquiring an additional 6,401 shares in the last quarter. Barclays PLC grew its holdings in shares of Kimbell Royalty Partners by 1,175.1% in the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock worth $219,000 after acquiring an additional 12,538 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in Kimbell Royalty Partners by 19.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 31,841 shares of the energy company’s stock valued at $512,000 after purchasing an additional 5,190 shares in the last quarter. 25.78% of the stock is currently owned by hedge funds and other institutional investors.

Kimbell Royalty Partners Company Profile