Royal Bank Of Canada reaffirmed their buy rating on shares of Kimbell Royalty (NYSE:KRP) in a research report sent to investors on Tuesday, November 7th. Royal Bank Of Canada currently has a $19.00 target price on the energy company’s stock.
A number of other equities analysts also recently commented on KRP. Zacks Investment Research downgraded shares of Kimbell Royalty from a hold rating to a sell rating in a research note on Friday, October 27th. Imperial Capital began coverage on shares of Kimbell Royalty in a research note on Tuesday, August 15th. They issued an outperform rating and a $20.00 target price on the stock. Stifel Nicolaus set a $19.00 price target on shares of Kimbell Royalty and gave the stock a buy rating in a research note on Friday, August 18th. Finally, Stephens reaffirmed an overweight rating and set a $22.00 price target (down previously from $24.00) on shares of Kimbell Royalty in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Kimbell Royalty has a consensus rating of Buy and a consensus price target of $21.33.
Kimbell Royalty (NYSE KRP) opened at $17.00 on Tuesday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.08. Kimbell Royalty has a one year low of $15.06 and a one year high of $20.89.
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The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were issued a $0.31 dividend. The ex-dividend date was Friday, November 3rd. This is a positive change from Kimbell Royalty’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 7.29%.
Several hedge funds and other institutional investors have recently bought and sold shares of KRP. Royal Bank of Canada acquired a new position in shares of Kimbell Royalty in the 2nd quarter valued at about $164,000. Signature Financial Management Inc. acquired a new position in Kimbell Royalty during the 3rd quarter valued at about $185,000. Hollow Brook Wealth Management LLC acquired a new position in Kimbell Royalty during the 2nd quarter valued at about $210,000. Raymond James Financial Services Advisors Inc. acquired a new position in Kimbell Royalty during the 2nd quarter valued at about $312,000. Finally, King Luther Capital Management Corp boosted its stake in Kimbell Royalty by 12.3% during the 2nd quarter. King Luther Capital Management Corp now owns 52,550 shares of the energy company’s stock valued at $884,000 after purchasing an additional 5,765 shares during the period. 22.09% of the stock is owned by institutional investors and hedge funds.
About Kimbell Royalty
Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties throughout the United States. As of December 31, 2015, the Company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 0.9 million gross acres, with approximately 44% of its acres located in the Permian Basin.
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