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

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.00.

A number of analysts recently weighed in on KRP shares. Raymond James decreased their price target on shares of Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Truist Financial dropped their price objective on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. TD Securities reduced their price target on Kimbell Royalty Partners from $26.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, KeyCorp upped their price target on shares of Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, April 22nd.

Kimbell Royalty Partners Stock Down 0.8 %

Shares of NYSE:KRP opened at $16.41 on Thursday. The stock has a 50-day simple moving average of $15.82 and a 200-day simple moving average of $15.49. The stock has a market capitalization of $1.55 billion, a P/E ratio of 27.35 and a beta of 1.07. Kimbell Royalty Partners has a 1 year low of $14.02 and a 1 year high of $17.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 7.95 and a current ratio of 7.95.

Kimbell Royalty Partners (NYSE:KRP) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.15). Kimbell Royalty Partners had a return on equity of 5.68% and a net margin of 12.93%. The business had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $79.42 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Kimbell Royalty Partners’s quarterly revenue was up 52.4% compared to the same quarter last year. Equities analysts forecast that Kimbell Royalty Partners will post 0.91 earnings per share for the current year.

Kimbell Royalty Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.49 per share. This is an increase from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, May 10th. This represents a $1.96 annualized dividend and a dividend yield of 11.94%. Kimbell Royalty Partners’s payout ratio is 286.67%.

Insider Buying and Selling

In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 27,163 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $15.51, for a total transaction of $421,298.13. Following the completion of the transaction, the director now directly owns 299,030 shares of the company’s stock, valued at approximately $4,637,955.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brett G. Taylor sold 22,327 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $15.68, for a total transaction of $350,087.36. Following the transaction, the director now owns 402,536 shares in the company, valued at $6,311,764.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brett G. Taylor sold 27,163 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $15.51, for a total value of $421,298.13. Following the sale, the director now directly owns 299,030 shares in the company, valued at approximately $4,637,955.30. The disclosure for this sale can be found here. Insiders have sold a total of 100,672 shares of company stock valued at $1,571,185 in the last quarter. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KRP. Teacher Retirement System of Texas raised its holdings in shares of Kimbell Royalty Partners by 4.0% during the third quarter. Teacher Retirement System of Texas now owns 16,303 shares of the energy company’s stock valued at $261,000 after acquiring an additional 628 shares during the period. Annandale Capital LLC grew its holdings in shares of Kimbell Royalty Partners by 8.1% during the third quarter. Annandale Capital LLC now owns 11,328 shares of the energy company’s stock valued at $181,000 after buying an additional 850 shares in the last quarter. TD Asset Management Inc raised its position in Kimbell Royalty Partners by 2.0% during the fourth quarter. TD Asset Management Inc now owns 65,586 shares of the energy company’s stock valued at $987,000 after buying an additional 1,268 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kimbell Royalty Partners by 11.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock worth $197,000 after acquiring an additional 1,379 shares during the period. Finally, Barclays PLC grew its position in Kimbell Royalty Partners by 13.2% during the third quarter. Barclays PLC now owns 11,909 shares of the energy company’s stock valued at $191,000 after purchasing an additional 1,386 shares in the last quarter. 25.78% of the stock is owned by institutional investors and hedge funds.

About Kimbell Royalty Partners