Kimbell Royalty Partners, LP (NYSE:KRP) Given Average Recommendation of “Moderate Buy” by Analysts

Posted by Grant Hamersma on Sep 18th, 2024

Kimbell Royalty Partners, LP (NYSE:KRP – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $21.00.

Several brokerages have weighed in on KRP. Truist Financial boosted their price objective on Kimbell Royalty Partners from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America reiterated an “underperform” rating and issued a $16.00 price objective on shares of Kimbell Royalty Partners in a research report on Friday, June 14th.

Check Out Our Latest Research Report on KRP

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $15.71, for a total transaction of $78,550.00. Following the completion of the transaction, the insider now owns 50,164 shares in the company, valued at $788,076.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kimbell Royalty Partners

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in Kimbell Royalty Partners in the second quarter worth $25,000. Summit Securities Group LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth $43,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kimbell Royalty Partners by 98.9% in 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 last quarter. International Assets Investment Management LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth $99,000. Finally, Bridgewealth Advisory Group LLC purchased a new stake in shares of Kimbell Royalty Partners in the second quarter worth $165,000. Institutional investors own 25.78% of the company’s stock.

Kimbell Royalty Partners Stock Up 0.8 %

Shares of KRP opened at $15.84 on Wednesday. The firm has a market cap of $1.51 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.29 and a beta of 1.13. The stock has a 50 day simple moving average of $16.04 and a two-hundred day simple moving average of $16.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 5.68 and a quick ratio of 5.68. Kimbell Royalty Partners has a 1 year low of $14.26 and a 1 year high of $17.11.

Kimbell Royalty Partners (NYSE:KRP – Get Free Report) last issued its earnings results on Thursday, August 1st. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $76.60 million during the quarter, compared to analysts’ expectations of $81.19 million. Kimbell Royalty Partners had a return on equity of 5.03% and a net margin of 10.74%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. On average, analysts forecast that Kimbell Royalty Partners will post 0.99 earnings per share for the current fiscal year.

Kimbell Royalty Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, August 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.61%. Kimbell Royalty Partners’s dividend payout ratio is presently 280.00%.