Raymond James & Associates purchased a new position in Kimbell Royalty Partners LP (NYSE:KRP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,281 shares of the energy company’s stock, valued at approximately $381,000.
Separately, Renaissance Technologies LLC purchased a new position in Kimbell Royalty Partners in the 2nd quarter worth approximately $1,117,000. 17.39% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on KRP. Zacks Investment Research upgraded Kimbell Royalty Partners from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, October 17th. Raymond James upped their price target on Kimbell Royalty Partners from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $24.00 price target (down previously from $25.00) on shares of Kimbell Royalty Partners in a report on Friday, August 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $24.20.
Kimbell Royalty Partners (NYSE:KRP) last released its earnings results on Thursday, August 9th. The energy company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). The business had revenue of $10.71 million for the quarter, compared to analysts’ expectations of $10.95 million. Kimbell Royalty Partners had a negative net margin of 126.81% and a positive return on equity of 1.93%. As a group, analysts forecast that Kimbell Royalty Partners LP will post 0.48 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Monday, November 12th. Stockholders of record on Monday, November 5th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 2nd. Kimbell Royalty Partners’s dividend payout ratio (DPR) is currently 1,323.08%.
In other Kimbell Royalty Partners news, Director Erik B. Daugbjerg bought 2,500 shares of Kimbell Royalty Partners stock in a transaction dated Thursday, September 6th. The stock was bought at an average cost of $22.14 per share, for a total transaction of $55,350.00. Following the purchase, the director now owns 7,978 shares in the company, valued at approximately $176,632.92. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Erik B. Daugbjerg bought 1,500 shares of Kimbell Royalty Partners stock in a transaction dated Tuesday, September 4th. The shares were acquired at an average price of $22.52 per share, with a total value of $33,780.00. Following the completion of the purchase, the director now owns 4,978 shares in the company, valued at approximately $112,104.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 5,500 shares of company stock valued at $121,160. Company insiders own 14.20% of the company’s stock.
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, 2017, the company owned mineral and royalty interests in approximately 3.7 million gross acres and overriding royalty interests in approximately 2 million gross acres.
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