Kimbell Royalty (NYSE:KRP) Given New $19.00 Price Target at Citigroup

Kimbell Royalty (NYSE:KRP) had its target price lifted by Citigroup from $17.00 to $19.00 in a research note published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the energy company’s stock.

Other research analysts also recently issued reports about the company. Mizuho lowered their target price on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Wall Street Zen cut shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings raised shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Finally, Zacks Research cut shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.33.

Kimbell Royalty Price Performance

NYSE:KRP opened at $14.45 on Tuesday. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.56 billion, a P/E ratio of 23.31, a P/E/G ratio of 3.50 and a beta of 0.30. Kimbell Royalty has a 12 month low of $10.98 and a 12 month high of $15.12. The business’s 50-day moving average is $14.09 and its 200 day moving average is $13.24.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. Kimbell Royalty had a return on equity of 13.73% and a net margin of 26.43%.The business had revenue of $82.45 million during the quarter, compared to analysts’ expectations of $76.78 million. During the same quarter last year, the business posted ($0.48) EPS. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts forecast that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 18th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend was Wednesday, March 18th. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.35. Kimbell Royalty’s dividend payout ratio is 238.71%.

Kimbell Royalty declared that its Board of Directors has approved a share buyback program on Monday, March 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the energy company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Kimbell Royalty

In other news, insider Blayne Rhynsburger sold 6,609 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.48, for a total transaction of $95,698.32. Following the transaction, the insider owned 75,163 shares of the company’s stock, valued at approximately $1,088,360.24. The trade was a 8.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new stake in shares of Kimbell Royalty in the fourth quarter valued at $183,000. Alpine Global Management LLC purchased a new position in shares of Kimbell Royalty during the 4th quarter worth about $183,000. Virtu Financial LLC purchased a new position in shares of Kimbell Royalty during the 4th quarter worth about $210,000. Ruggaard & Associates LLC grew its holdings in Kimbell Royalty by 9.4% during the 4th quarter. Ruggaard & Associates LLC now owns 14,015 shares of the energy company’s stock valued at $165,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in Kimbell Royalty by 14.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 152,009 shares of the energy company’s stock valued at $1,788,000 after purchasing an additional 19,428 shares during the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

About Kimbell Royalty

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.