Analysts Set Kimbell Royalty Partners, LP (NYSE:KRP) Price Target at $20.86

Shares of Kimbell Royalty Partners, LP (NYSE:KRP) have received a consensus recommendation of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.86.

Several research firms have recently weighed in on KRP. Truist Financial decreased their price target on shares of Kimbell Royalty Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, April 5th. KeyCorp lowered their target price on Kimbell Royalty Partners from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 11th. TD Securities lowered their target price 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, Raymond James lowered their target price on Kimbell Royalty Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th.

Kimbell Royalty Partners Trading Down 0.3 %

Shares of Kimbell Royalty Partners stock opened at $15.95 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 17.34 and a beta of 1.08. Kimbell Royalty Partners has a twelve month low of $14.02 and a twelve month high of $17.11. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $15.63 and a 200-day moving average price of $15.49.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.13). The firm had revenue of $99.20 million during the quarter, compared to the consensus estimate of $83.89 million. Kimbell Royalty Partners had a return on equity of 8.98% and a net margin of 20.45%. The firm’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. Equities research analysts anticipate that Kimbell Royalty Partners will post 0.79 EPS for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date of this dividend was Tuesday, March 12th. Kimbell Royalty Partners’s payout ratio is presently 186.96%.

Insider Activity at Kimbell Royalty Partners

In related news, Director Brett G. Taylor sold 16,889 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.71, for a total value of $265,326.19. Following the transaction, the director now directly owns 326,193 shares of the company’s stock, valued at approximately $5,124,492.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Kimbell Royalty Partners news, Director Brett G. Taylor sold 16,889 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $15.71, for a total transaction of $265,326.19. Following the sale, the director now directly owns 326,193 shares of the company’s stock, valued at approximately $5,124,492.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Blayne Rhynsburger sold 6,487 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $15.60, for a total transaction of $101,197.20. Following the sale, the insider now directly owns 55,164 shares in the company, valued at $860,558.40. 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 ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KRP. T. Rowe Price Investment Management Inc. raised its holdings in Kimbell Royalty Partners by 41.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,435,664 shares of the energy company’s stock valued at $40,676,000 after acquiring an additional 709,547 shares during the last quarter. Mill Road Capital Management LLC increased its holdings in shares of Kimbell Royalty Partners by 14.8% during the 4th quarter. Mill Road Capital Management LLC now owns 1,885,765 shares of the energy company’s stock worth $28,381,000 after buying an additional 243,761 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Kimbell Royalty Partners by 2.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,859,664 shares of the energy company’s stock worth $29,755,000 after buying an additional 36,830 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Kimbell Royalty Partners by 2.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,328,566 shares of the energy company’s stock worth $20,832,000 after buying an additional 26,239 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Kimbell Royalty Partners by 4.4% during the 3rd quarter. Raymond James & Associates now owns 1,033,032 shares of the energy company’s stock worth $16,529,000 after buying an additional 43,935 shares during the last quarter. 25.78% of the stock is owned by hedge funds and other institutional investors.

About Kimbell Royalty Partners