Kimbell Royalty (NYSE:KRP) Cut to Hold at Zacks Research

Zacks Research cut shares of Kimbell Royalty (NYSE:KRP) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other research firms also recently commented on KRP. Citigroup cut their target price on shares of Kimbell Royalty from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, January 12th. Mizuho lifted their price objective on shares of Kimbell Royalty from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Kimbell Royalty in a report on Monday, December 29th. Wall Street Zen upgraded Kimbell Royalty from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Finally, KeyCorp restated a “sector weight” rating on shares of Kimbell Royalty in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $15.80.

Kimbell Royalty Stock Up 1.1%

Shares of NYSE:KRP opened at $12.85 on Thursday. The business’s 50 day moving average is $12.22 and its 200 day moving average is $13.24. The stock has a market cap of $1.39 billion, a P/E ratio of -183.50, a price-to-earnings-growth ratio of 4.49 and a beta of 0.32. Kimbell Royalty has a 52-week low of $10.98 and a 52-week high of $16.14. The company has a quick ratio of 5.39, a current ratio of 5.39 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP) last issued its earnings results on Thursday, November 6th. The energy company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $80.62 million during the quarter, compared to analysts’ expectations of $82.68 million. Kimbell Royalty had a return on equity of 12.51% and a net margin of 10.66%.The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Sell-side analysts predict that Kimbell Royalty will post 0.65 EPS for the current year.

Kimbell Royalty Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, November 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.9%. Kimbell Royalty’s payout ratio is presently -2,000.00%.

Institutional Trading of Kimbell Royalty

A number of institutional investors have recently bought and sold shares of the stock. Hilltop National Bank purchased a new stake in Kimbell Royalty during the 2nd quarter worth approximately $42,000. Legacy Investment Solutions LLC acquired a new stake in shares of Kimbell Royalty during the second quarter worth $56,000. State of Wyoming purchased a new stake in shares of Kimbell Royalty during the third quarter valued at $62,000. Westwood Holdings Group Inc. acquired a new position in shares of Kimbell Royalty in the 2nd quarter valued at $140,000. Finally, Sowell Financial Services LLC acquired a new position in shares of Kimbell Royalty in the 4th quarter valued at $120,000. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Company Profile

Kimbell Royalty Partners LP (NYSE: KRP) is a mineral and royalty company focused on acquiring and managing oil and natural gas royalty interests in the United States. As a master limited partnership, Kimbell Royalty generates fee-like revenues by collecting royalties and overriding royalty interests on production volumes, without directly bearing the capital or operating costs of drilling and completion activities. The partnership’s business model emphasizes steady cash flows and limited downside exposure to commodity price fluctuations.

The company’s asset portfolio spans multiple onshore basins, with a core concentration in Texas and New Mexico.