Kimbell Royalty Partners (NYSE:KRP) Price Target Increased to $22.00 by Analysts at Truist Financial

Kimbell Royalty Partners (NYSE:KRP) had its target price lifted by Truist Financial from $21.00 to $22.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Several other analysts also recently weighed in on KRP. Bank of America restated an underperform rating and set a $16.00 target price on shares of Kimbell Royalty Partners in a research note on Friday, June 14th. KeyCorp increased their target price on Kimbell Royalty Partners from $20.00 to $21.00 and gave the company an overweight rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Kimbell Royalty Partners presently has an average rating of Moderate Buy and a consensus price target of $20.83.

Kimbell Royalty Partners Stock Performance

Shares of KRP stock opened at $16.81 on Monday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.60 billion, a PE ratio of 28.01, a P/E/G ratio of 1.45 and a beta of 1.13. The company’s fifty day simple moving average is $16.61 and its 200-day simple moving average is $15.89. Kimbell Royalty Partners has a 52 week low of $14.02 and a 52 week high of $17.11.

Kimbell Royalty Partners (NYSE:KRP) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.15). The company had revenue of $87.50 million for the quarter, compared to analyst estimates of $79.42 million. Kimbell Royalty Partners had a return on equity of 5.74% and a net margin of 12.93%. The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Kimbell Royalty Partners will post 1.02 EPS for the current year.

Kimbell Royalty Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.66%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 10th. Kimbell Royalty Partners’s dividend payout ratio is 326.67%.

Insider Activity

In related news, Director Brett G. Taylor sold 50,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $16.52, for a total transaction of $826,000.00. Following the sale, the director now owns 249,030 shares in the company, valued at $4,113,975.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kimbell Royalty Partners

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in Kimbell Royalty Partners by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 59,742 shares of the energy company’s stock worth $927,000 after buying an additional 700 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Kimbell Royalty Partners by 6.6% in the 2nd quarter. Raymond James Trust N.A. now owns 15,696 shares of the energy company’s stock worth $257,000 after acquiring an additional 974 shares during the period. TD Asset Management Inc boosted its stake in Kimbell Royalty Partners by 2.0% during the 4th quarter. TD Asset Management Inc now owns 65,586 shares of the energy company’s stock valued at $987,000 after purchasing an additional 1,268 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kimbell Royalty Partners by 11.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,115 shares of the energy company’s stock worth $197,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Truist Financial Corp grew its position in Kimbell Royalty Partners by 11.1% in the 4th quarter. Truist Financial Corp now owns 20,532 shares of the energy company’s stock worth $309,000 after purchasing an additional 2,056 shares during the last quarter. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners