Kimbell Royalty Partners (NYSE:KRP) PT Lowered to $19.00

Kimbell Royalty Partners (NYSE:KRP) had its price objective lowered by Wells Fargo & Co from $20.00 to $19.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the energy company’s stock.

KRP has been the topic of several other reports. SunTrust Banks assumed coverage on shares of Kimbell Royalty Partners in a research note on Monday, June 17th. They set a hold rating and a $19.00 target price on the stock. Zacks Investment Research raised shares of Kimbell Royalty Partners from a hold rating to a buy rating and set a $16.00 target price on the stock in a research note on Friday, October 4th. Finally, TheStreet raised shares of Kimbell Royalty Partners from a d+ rating to a c- rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $19.89.

Shares of KRP stock traded up $0.07 during mid-day trading on Tuesday, hitting $13.80. 72,085 shares of the stock were exchanged, compared to its average volume of 43,561. The firm has a fifty day moving average of $14.62 and a 200 day moving average of $16.00. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.13. Kimbell Royalty Partners has a 52-week low of $13.01 and a 52-week high of $20.00. The company has a market cap of $335.50 million, a PE ratio of -69.00 and a beta of 1.46.

Kimbell Royalty Partners (NYSE:KRP) last posted its earnings results on Thursday, August 8th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.45. Kimbell Royalty Partners had a negative net margin of 17.53% and a positive return on equity of 2.83%. The business had revenue of $31.94 million for the quarter, compared to analyst estimates of $27.75 million. Equities analysts predict that Kimbell Royalty Partners will post 1.02 EPS for the current year.

In related news, Director Brett G. Taylor purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $14.25 per share, with a total value of $42,750.00. Following the purchase, the director now owns 215,027 shares of the company’s stock, valued at approximately $3,064,134.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Adams III purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $14.60 per share, for a total transaction of $73,000.00. Following the completion of the purchase, the director now directly owns 108,005 shares in the company, valued at approximately $1,576,873. The disclosure for this purchase can be found here. Insiders purchased a total of 15,160 shares of company stock worth $221,509 over the last ninety days. 14.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRP. Price T Rowe Associates Inc. MD purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $13,333,000. Yorktown Energy Partners X L.P. purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $13,183,000. Oppenheimer & Co. Inc. purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $1,688,000. TSP Capital Management Group LLC purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $673,000. Finally, Arrow Investment Advisors LLC purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $357,000. 58.95% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Partners Company Profile

Kimbell Royalty Partners, LP owns and acquires mineral and royalty interests in oil and natural gas properties in the United States. As of December 31, 2018, the company owned mineral and royalty interests in approximately 7.8 million gross acres and overriding royalty interests in approximately 4.4 million gross acres.

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Analyst Recommendations for Kimbell Royalty Partners (NYSE:KRP)

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