Kimbell Royalty (NYSE:KRP) Receives $18.00 Average Price Target from Analysts

Kimbell Royalty (NYSE:KRP) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.00.

Several research analysts have commented on KRP shares. Wall Street Zen cut shares of Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Royal Bank Of Canada started coverage on shares of Kimbell Royalty in a report on Friday, May 29th. They set an “outperform” rating and a $20.00 price target for the company. Weiss Ratings cut shares of Kimbell Royalty from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 14th. KeyCorp upgraded shares of Kimbell Royalty from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a report on Thursday, April 2nd. Finally, Citigroup boosted their price target on shares of Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in Kimbell Royalty during the 1st quarter worth approximately $60,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Kimbell Royalty by 29.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,450 shares of the energy company’s stock valued at $64,000 after buying an additional 1,250 shares in the last quarter. Marex Group plc acquired a new position in shares of Kimbell Royalty in the 4th quarter valued at $118,000. Sowell Financial Services LLC acquired a new position in shares of Kimbell Royalty in the 4th quarter valued at $120,000. Finally, Tableaux LLC acquired a new position in shares of Kimbell Royalty in the 4th quarter valued at $120,000. Institutional investors and hedge funds own 25.78% of the company’s stock.

Kimbell Royalty Price Performance

Shares of KRP opened at $14.78 on Wednesday. Kimbell Royalty has a fifty-two week low of $11.31 and a fifty-two week high of $15.80. The firm’s 50 day moving average price is $14.97 and its 200 day moving average price is $13.96. The company has a market cap of $1.59 billion, a P/E ratio of 32.12 and a beta of 0.29. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.77.

Kimbell Royalty (NYSE:KRP) last announced its earnings results on Thursday, May 7th. The energy company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). Kimbell Royalty had a return on equity of 11.70% and a net margin of 22.76%.The business had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $90.25 million. During the same period in the previous year, the company earned $0.20 earnings per share. Kimbell Royalty’s quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts forecast that Kimbell Royalty will post 0.97 earnings per share for the current fiscal year.

Kimbell Royalty declared that its board has approved a stock repurchase program on Monday, March 9th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the energy company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Kimbell Royalty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.41 per share. This is a boost from Kimbell Royalty’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, May 19th. This represents a $1.64 annualized dividend and a yield of 11.1%. Kimbell Royalty’s dividend payout ratio (DPR) is presently 356.52%.

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.