Kimbell Royalty (NYSE:KRP) Receives $18.00 Average PT from Brokerages

Kimbell Royalty (NYSE:KRP) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $18.00.

A number of analysts have commented on KRP shares. Citigroup increased their price objective on shares of Kimbell Royalty from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. KeyCorp upgraded Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a report on Thursday, April 2nd. Weiss Ratings lowered Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada started coverage on Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price target for the company.

Kimbell Royalty Price Performance

Kimbell Royalty stock opened at $15.09 on Friday. Kimbell Royalty has a 52-week low of $11.31 and a 52-week high of $15.80. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 32.79 and a beta of 0.29. The company has a fifty day simple moving average of $14.97 and a 200-day simple moving average of $14.31. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.77.

Kimbell Royalty (NYSE:KRP) last posted its quarterly earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). The business had revenue of $65.54 million during the quarter, compared to analysts’ expectations of $90.25 million. Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities analysts anticipate that Kimbell Royalty will post 0.81 EPS for the current fiscal year.

Kimbell Royalty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 10.9%. The ex-dividend date was Tuesday, May 19th. This is an increase from Kimbell Royalty’s previous quarterly dividend of $0.37. Kimbell Royalty’s dividend payout ratio (DPR) is currently 356.52%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. UBS Group AG raised its stake in Kimbell Royalty by 9.4% during the fourth quarter. UBS Group AG now owns 1,009,057 shares of the energy company’s stock worth $11,867,000 after purchasing an additional 86,957 shares during the period. Gabelli Funds LLC boosted its holdings in Kimbell Royalty by 47.7% in the 4th quarter. Gabelli Funds LLC now owns 240,000 shares of the energy company’s stock valued at $2,822,000 after purchasing an additional 77,500 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Kimbell Royalty by 18.3% in the 4th quarter. Nordea Investment Management AB now owns 220,716 shares of the energy company’s stock valued at $2,585,000 after buying an additional 34,175 shares during the period. GraniteShares Advisors LLC grew its stake in shares of Kimbell Royalty by 20.9% in the 4th quarter. GraniteShares Advisors LLC now owns 228,676 shares of the energy company’s stock valued at $2,689,000 after buying an additional 39,510 shares during the period. Finally, Freestone Capital Holdings LLC increased its holdings in shares of Kimbell Royalty by 81.7% during the 4th quarter. Freestone Capital Holdings LLC now owns 181,693 shares of the energy company’s stock worth $2,137,000 after buying an additional 81,693 shares during the last quarter. Hedge funds and other institutional investors own 25.78% of the company’s stock.

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.