Analysts Set Kimbell Royalty (NYSE:KRP) Target Price at $16.67

Shares of Kimbell Royalty (NYSE:KRP) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.6667.

KRP has been the topic of a number of recent research reports. Wall Street Zen lowered Kimbell Royalty from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings upgraded shares of Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Citigroup lifted their target price on shares of Kimbell Royalty from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Mizuho reduced their target price on shares of Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Finally, Zacks Research cut shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KRP. State of Wyoming bought a new stake in shares of Kimbell Royalty in the 3rd quarter valued at about $62,000. EverSource Wealth Advisors LLC increased its stake in shares of Kimbell Royalty by 29.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock valued at $64,000 after buying an additional 1,250 shares during the period. Marex Group plc bought a new position in shares of Kimbell Royalty during the fourth quarter worth about $118,000. Sowell Financial Services LLC bought a new position in shares of Kimbell Royalty during the fourth quarter worth about $120,000. Finally, Tableaux LLC acquired a new position in shares of Kimbell Royalty in the fourth quarter worth approximately $120,000. 25.78% of the stock is owned by institutional investors.

Kimbell Royalty Stock Down 1.9%

Shares of KRP opened at $14.39 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.64 and a current ratio of 8.64. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $15.12. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 3.46 and a beta of 0.30. The stock has a fifty day moving average of $13.67 and a 200-day moving average of $13.18.

Kimbell Royalty (NYSE:KRP) last issued its quarterly earnings data on Thursday, February 26th. The energy company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $82.45 million for the quarter, compared to analyst estimates of $76.78 million. Kimbell Royalty had a return on equity of 13.73% and a net margin of 26.43%.Kimbell Royalty’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.48) EPS. As a group, sell-side analysts anticipate that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 18th will be paid a $0.37 dividend. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend is Wednesday, March 18th. Kimbell Royalty’s payout ratio is presently 225.81%.

Kimbell Royalty announced that its Board of Directors has authorized a stock repurchase program on Monday, March 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the energy company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.