Truist Financial Trims Kimbell Royalty Partners (NYSE:KRP) Target Price to $21.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective trimmed by Truist Financial from $23.00 to $21.00 in a report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

Separately, Bank of America reaffirmed an underperform rating and set a $16.00 price target on shares of Kimbell Royalty Partners in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $20.67.

Kimbell Royalty Partners Trading Up 0.6 %

KRP stock opened at $16.21 on Monday. The business has a fifty day simple moving average of $15.84 and a 200-day simple moving average of $16.14. The company has a quick ratio of 5.68, a current ratio of 5.68 and a debt-to-equity ratio of 0.41. Kimbell Royalty Partners has a 52 week low of $14.26 and a 52 week high of $17.11. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.63 and a beta of 1.13.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $81.19 million. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts expect that Kimbell Royalty Partners will post 0.83 EPS for the current year.

Kimbell Royalty Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.68 dividend on an annualized basis and a yield of 10.37%. Kimbell Royalty Partners’s payout ratio is currently 280.00%.

Insider Buying and Selling at Kimbell Royalty Partners

In other news, insider Blayne Rhynsburger sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $15.71, for a total transaction of $78,550.00. Following the transaction, the insider now owns 50,164 shares of the company’s stock, valued at $788,076.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in shares of Kimbell Royalty Partners during the second quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in Kimbell Royalty Partners during the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. raised its stake in Kimbell Royalty Partners by 98.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,984 shares of the energy company’s stock worth $49,000 after acquiring an additional 1,484 shares during the period. International Assets Investment Management LLC acquired a new stake in Kimbell Royalty Partners during the second quarter worth about $99,000. Finally, Bridgewealth Advisory Group LLC acquired a new stake in Kimbell Royalty Partners during the second quarter worth about $165,000. Institutional investors own 25.78% of the company’s stock.

About Kimbell Royalty Partners