Kimbell Royalty (NYSE:KRP) Stock Rating Upgraded by KeyCorp

Kimbell Royalty (NYSE:KRP) was upgraded by stock analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a $17.00 price target on the energy company’s stock. KeyCorp’s target price indicates a potential upside of 20.27% from the stock’s previous close.

Several other equities analysts also recently issued reports on KRP. Zacks Research downgraded shares of Kimbell Royalty from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Citigroup increased their price target on Kimbell Royalty from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen cut Kimbell Royalty from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Mizuho lowered their price objective on Kimbell Royalty from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings upgraded Kimbell Royalty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Kimbell Royalty currently has an average rating of “Hold” and an average price target of $17.33.

Kimbell Royalty Trading Down 2.3%

Kimbell Royalty stock opened at $14.14 on Thursday. The stock has a 50-day moving average price of $14.13 and a 200 day moving average price of $13.24. Kimbell Royalty has a 52 week low of $10.98 and a 52 week high of $15.12. The stock has a market cap of $1.53 billion, a PE ratio of 22.80, a P/E/G ratio of 3.41 and a beta of 0.29. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 0.72.

Kimbell Royalty (NYSE:KRP) last released its earnings results on Thursday, February 26th. The energy company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. Kimbell Royalty had a net margin of 26.43% and a return on equity of 13.73%. The company had revenue of $82.45 million for the quarter, compared to analyst estimates of $76.78 million. During the same period in the prior year, the firm earned ($0.48) EPS. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. Equities research analysts predict that Kimbell Royalty will post 0.65 earnings per share for the current fiscal year.

Kimbell Royalty declared that its Board of Directors has authorized a share buyback plan on Monday, March 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the energy company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Kimbell Royalty

In related news, insider Blayne Rhynsburger sold 6,609 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.48, for a total value of $95,698.32. Following the transaction, the insider directly owned 75,163 shares of the company’s stock, valued at approximately $1,088,360.24. This trade represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kimbell Royalty

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRP. Hsbc Holdings PLC purchased a new position in shares of Kimbell Royalty in the 4th quarter worth about $183,000. Alpine Global Management LLC acquired a new position in shares of Kimbell Royalty in the 4th quarter valued at about $183,000. Virtu Financial LLC purchased a new stake in shares of Kimbell Royalty during the 4th quarter worth about $210,000. Ruggaard & Associates LLC grew its holdings in shares of Kimbell Royalty by 9.4% during the 4th quarter. Ruggaard & Associates LLC now owns 14,015 shares of the energy company’s stock worth $165,000 after purchasing an additional 1,200 shares during the period. Finally, Beacon Pointe Advisors LLC increased its position in Kimbell Royalty by 14.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 152,009 shares of the energy company’s stock worth $1,788,000 after purchasing an additional 19,428 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Company Profile

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.