Analysts Set Kimbell Royalty Partners LP (KRP) Price Target at $20.83

Kimbell Royalty Partners LP (NYSE:KRP) has received an average rating of “Buy” from the seven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.83.

KRP has been the topic of a number of research reports. Stifel Nicolaus cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, May 28th. Imperial Capital restated an “outperform” rating and issued a $20.00 price objective (up from $18.00) on shares of Kimbell Royalty Partners in a research note on Monday, March 11th. Stephens initiated coverage on Kimbell Royalty Partners in a research note on Thursday, April 11th. They issued an “overweight” rating and a $22.00 price objective on the stock. Zacks Investment Research cut Kimbell Royalty Partners from a “hold” rating to a “sell” rating in a research note on Saturday, May 11th. Finally, Credit Suisse Group upgraded Kimbell Royalty Partners from a “neutral” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Monday, May 13th.

In other news, major shareholder Minerals & Royalties Haymaker sold 3,200,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $16.25, for a total transaction of $52,000,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 3,200,728 shares of company stock worth $52,013,293. Company insiders own 14.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. increased its position in shares of Kimbell Royalty Partners by 1,025.2% during the fourth quarter. Advisor Group Inc. now owns 2,813 shares of the energy company’s stock valued at $38,000 after buying an additional 2,563 shares during the period. Meridian Wealth Advisors LLC grew its holdings in shares of Kimbell Royalty Partners by 21.0% during the first quarter. Meridian Wealth Advisors LLC now owns 23,016 shares of the energy company’s stock worth $421,000 after purchasing an additional 4,000 shares in the last quarter. Trustcore Financial Services LLC grew its holdings in shares of Kimbell Royalty Partners by 42.8% during the first quarter. Trustcore Financial Services LLC now owns 16,060 shares of the energy company’s stock worth $293,000 after purchasing an additional 4,810 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Kimbell Royalty Partners by 21.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,280 shares of the energy company’s stock worth $398,000 after purchasing an additional 5,200 shares in the last quarter. Finally, Barclays PLC purchased a new position in shares of Kimbell Royalty Partners during the fourth quarter worth about $113,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Shares of NYSE:KRP traded down $0.37 during midday trading on Friday, reaching $16.08. The company had a trading volume of 78,318 shares, compared to its average volume of 56,551. The company has a debt-to-equity ratio of 0.12, a quick ratio of 8.07 and a current ratio of 8.07. The company has a market capitalization of $378.65 million, a P/E ratio of -80.40 and a beta of 1.72. Kimbell Royalty Partners has a 52-week low of $13.01 and a 52-week high of $24.50.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, May 9th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). Kimbell Royalty Partners had a negative net margin of 9.87% and a positive return on equity of 1.02%. The firm had revenue of $17.95 million during the quarter, compared to the consensus estimate of $22.32 million. As a group, research analysts predict that Kimbell Royalty Partners will post 0.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, May 6th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 9.20%. The ex-dividend date was Friday, May 3rd. Kimbell Royalty Partners’s dividend payout ratio is presently -740.00%.

Kimbell Royalty Partners Company Profile

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.

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Analyst Recommendations for Kimbell Royalty Partners (NYSE:KRP)

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