Kimbell Royalty (NYSE:KRP) Upgraded at Zacks Research

Kimbell Royalty (NYSE:KRP) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Kimbell Royalty from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Royal Bank Of Canada started coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Kimbell Royalty from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kimbell Royalty presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Kimbell Royalty Price Performance

Shares of Kimbell Royalty stock opened at $14.93 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 7.30 and a quick ratio of 7.30. Kimbell Royalty has a one year low of $11.31 and a one year high of $15.80. The business’s 50 day simple moving average is $14.88 and its two-hundred day simple moving average is $14.78. The stock has a market capitalization of $1.71 billion, a P/E ratio of 17.77 and a beta of 0.31.

Kimbell Royalty (NYSE:KRP) last released its quarterly earnings data on Friday, August 7th. The energy company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Kimbell Royalty had a return on equity of 14.95% and a net margin of 27.17%.The firm had revenue of $112.48 million during the quarter, compared to analyst estimates of $93.45 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. Analysts forecast that Kimbell Royalty will post 0.81 EPS for the current year.

Insider Activity at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 4,524 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $15.08, for a total transaction of $68,221.92. Following the completion of the transaction, the insider owned 70,639 shares in the company, valued at $1,065,236.12. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in Kimbell Royalty by 329.4% in the 2nd quarter. Van ECK Associates Corp now owns 3,627,850 shares of the energy company’s stock worth $52,713,000 after purchasing an additional 2,783,040 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Kimbell Royalty by 1,353.0% in the 2nd quarter. California State Teachers Retirement System now owns 1,184,849 shares of the energy company’s stock worth $17,216,000 after purchasing an additional 1,103,304 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in shares of Kimbell Royalty during the 2nd quarter valued at about $8,432,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Kimbell Royalty during the 1st quarter valued at about $7,405,000. Finally, Oxbow Advisors LLC purchased a new position in shares of Kimbell Royalty during the second quarter valued at about $5,928,000. 25.78% of the stock is owned by hedge funds and other institutional investors.

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.