Kimbell Royalty Partners (NYSE:KRP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kimbell Royalty Partners (NYSE:KRP) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other equities analysts have also recently issued reports on KRP. Royal Bank of Canada upgraded Kimbell Royalty Partners to a “moderate buy” rating in a research note on Friday, March 14th. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America reduced their price objective on Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 4th. Mizuho started coverage on Kimbell Royalty Partners in a research note on Monday, March 31st. They set a “neutral” rating and a $16.00 price objective on the stock. Finally, KeyCorp cut their target price on Kimbell Royalty Partners from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.40.

Kimbell Royalty Partners Stock Up 0.6%

KRP stock opened at $13.08 on Friday. Kimbell Royalty Partners has a twelve month low of $10.98 and a twelve month high of $17.07. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.40 billion, a P/E ratio of 25.65, a PEG ratio of 4.25 and a beta of 0.44. The firm has a 50 day simple moving average of $12.89 and a 200-day simple moving average of $14.61.

Kimbell Royalty Partners (NYSE:KRP) last announced its quarterly earnings data on Thursday, May 8th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. Kimbell Royalty Partners had a return on equity of 5.82% and a net margin of 11.33%. The firm had revenue of $84.21 million for the quarter, compared to analysts’ expectations of $84.05 million. During the same period last year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts predict that Kimbell Royalty Partners will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 20th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 14.37%. This is a boost from Kimbell Royalty Partners’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, May 20th. Kimbell Royalty Partners’s dividend payout ratio (DPR) is presently 3,760.00%.

Insider Buying and Selling at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.86, for a total transaction of $108,814.86. Following the sale, the insider now directly owns 49,263 shares in the company, valued at $682,785.18. The trade was a 13.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kimbell Royalty Partners

A number of hedge funds and other institutional investors have recently modified their holdings of KRP. Raymond James Financial Inc. acquired a new position in Kimbell Royalty Partners during the fourth quarter worth about $30,449,000. Adage Capital Partners GP L.L.C. grew its holdings in Kimbell Royalty Partners by 604.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,691,666 shares of the energy company’s stock worth $23,683,000 after acquiring an additional 1,451,666 shares during the period. Ghisallo Capital Management LLC acquired a new position in Kimbell Royalty Partners during the first quarter worth about $10,150,000. Epoch Investment Partners Inc. grew its holdings in Kimbell Royalty Partners by 222.8% during the first quarter. Epoch Investment Partners Inc. now owns 672,420 shares of the energy company’s stock worth $9,414,000 after acquiring an additional 464,142 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Kimbell Royalty Partners during the first quarter worth about $6,300,000. 25.78% of the stock is currently owned by institutional investors.

Kimbell Royalty Partners Company Profile